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Paycom Software Inc - Stock Quote PAYC

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Morningstar's Paycom Software Inc Stock Analysis

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We Expect Greater Uptake of Employee Self-Service Modules Is Creating Stickier Clients for Paycom

Emma Williams Equity Analyst

Business Strategy and Outlook

| Emma Williams |

Paycom's unified platform appeals to midsize and enterprise clients who prefer an all-in-one payroll and HCM solution. The company's platform is supported by a single database, which provides a single source of truth and allows efficient software development and maintenance. Unlike competitors, Paycom discourages data integrations to third-party providers but instead incentivises clients to contain their HCM solutions within its unified platform by offering add on modules including time and attendance and benefits administration. In practice, new clients may consolidate their payroll and HCM solutions from multiple providers to an all-in-one solution by Paycom. The company is squarely focused on driving greater automation and employee self-service, supported by complimentary analytics tools for clients and the recent roll out self-service payroll module, BETI.

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Key Statistics - PAYC

Paycom Software Inc's Company Profile

Business Description

Paycom is a fast-growing provider of payroll and human capital management, or HCM, software primarily targeting clients with 50-10,000 employees in the United States. Paycom was established in 1998 and services about 16,000 clients, based on parent company grouping. Alongside its core payroll software, Paycom offers various HCM add on modules including time and attendance, talent management, and benefits administration.

7501 W. Memorial Road
Oklahoma City, OK, 73142
T +1 405 722-6900
Industry Software - Application
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Aggressive Growth
Employees 5,385