Long Position on PAYC @ $47.65 on 7/29/2016 (Momentum)

Paycom Software, Inc. (PAYC) provides cloud-based human capital management (HCM) software solutions delivered as Software–as-a-Service for small to mid-sized companies in the United States.

It provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement.

The company’s HCM solution offers a suite of applications in the areas of talent acquisition including applicant tracking, candidate tracker, background checks, on-boarding, E-Verify, and tax credit service applications; time and labor management, such as time and attendance, scheduling/schedule exchange, time-off requests, labor allocation, and labor management reports/push reporting, and geofencing/geotracking applications.

Its HCM solution also provides payroll applications comprising payroll and tax management, Paycom Pay, expense management, and garnishment management applications; and talent management applications consisting of employee self-service, compensation budgeting, performance management, executive dashboard, and Paycom learning applications.

In addition, the company’s HCM solution offers HR management applications, including document and task management, government and compliance, benefits administration/benefits to carrier, COBRA administration, personnel action forms, surveys, and affordable care act applications.

Shares have formed a bullish shallow "cup and handle" ahead of the firm's results on August 2nd. Higher share prices are expected for this stock.

52-Weeks Trading Range: $22.42 to $47.77

Entry Point: $47.65

Stop Loss:   $45.00

Target Price: $52.40

Updates

8/29/2016 3:56:10 PM

PAYC closed at $51.20

Position closed on 8/29/2016 at price of $51.20 with a 7.45% gain in 31 days.

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