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We featured this stock last week but we lost the shares to the downside. We do believe in this stock!
Paycom Software, Inc. (PAYC) provides a cloud-based human capital management (HCM) software solution delivered as software-as-a-service in the United States.
The company offers functionality and data analytics that enable businesses to manage the employment life cycle from recruitment to retirement.
Its HCM solution offers a suite of applications in the areas of talent acquisition, which includes applicant tracking, employment background checks, on-boarding/off-boarding, E-Verify, and tax credit services applications; time and labor management that comprises time and attendance, scheduling, time-off requests, labor allocation, and labor management report applications; and payroll, which consists of payroll and tax management, Paycom Pay, expense management, and garnishment management applications.
The companys HCM solution also provides talent management applications, such as employee self-service, compensation budgeting, performance management, and executive dashboard applications; and HR management applications, including document management, government and compliance, benefits administration, COBRA administration, and personnel action forms applications. It primarily serves small to mid-sized companies.
Shares have formed a bullish "cup & handle" and higher share prices are expected for this stock.
52-Week Trading Range: $12.28 - $35.12
Entry Point: $34.50
Stop Loss: $32.70
Target Price: $37.95
PAYC fell below our stop loss. Closed at $32.20. We expect shares to stage a come back!
