2024-04-10 09:21:18 ET
Summary
- Paycom's stock has underperformed the market, but there are reasons to believe it can improve its product adoption rates and investor optimism.
- Paycom is a cloud software company that offers human capital management solutions and is expanding internationally.
- While Paycom's revenue growth has slowed, its profitability focus remains strong, and there is potential upside in its valuation.
Investment Thesis
Paycom ( PAYC ) has been one of the few software companies that is still recovering from the slump in software stocks that was felt through 2022. The company’s answer to the AI hype that has gripped software companies so far is their product called Beti, short for Better Employee Transaction Interface. The product was launched in 2021 as an automated payroll solution, allowing employees of organizations to manage their own payroll....
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Paycom: The Worst May Be Priced In