2023-12-27 07:45:00 ET
Paycom Software (NYSE: PAYC) has been a perennial wealth creator. The cloud-based payroll-software provider has delivered a staggering 30% annualized return since its initial public offering (IPO) in 2014 (1,170% overall). That has absolutely pulverized the S&P 500 's return (155% or 10.1% annualized).
However, Paycom stock has fallen on hard times this year. Shares have lost one-third of their value over the past year and plunged 45% from their 52-week high. That has been an abysmal performance compared to the S&P 500, which has rallied 24% this year. Here's a look at what has weighed on Paycom stock and whether now is a good time to buy the dip in the cloud stock .
Paycom has helped revolutionize the payroll sector. It was one of the first companies to bring the industry online. It has since launched Beti (better employee transaction interface), an industry-first solution that empowers employees to do their own payroll. Beti helps employees find and fix costly errors, saving companies time and money.
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Is It Time to Buy the Dip on Paycom Stock?