Paycom Soft (NYSE:PAYC)
Wesco Aircraft Holdings, Inc. (PAYC), a leading cloud-based human capital management (HCM) software solutions company yesterday reported their fourth quarter and year end 2016 financial results. Wesco reported fourth quarter adjusted earnings of $0.18 per share which beat analyst estimates of $0.12 per share. Wesco reported fourth quarter revenues of $87.8 million which beat analyst estimates of $86.2 million
Paycom Software CEO’s Comments
This year we further elevated our visibility within the marketplace, improved our client reach and continued to empower businesses nationwide with our powerful, yet intuitive human capital management software solution,” said Chad Richison, Paycom’s founder and CEO. “With impressive annual revenue growth of 46.5 percent, we bolstered our market share and now serve over 17,800 clients from coast to coast. We also returned value to our stockholders by repurchasing $50 million of common stock, which speaks to the power of our cash-generative business model. As we enter our 20th year of leading organizations in their search for best-in-class HR and payroll solutions, we will continue to provide outstanding levels of customer service and to innovate our technology through our investments in research and development. Business Wire
PAYC Technical Analysis
PAYC opened trading yesterday at $45.33 which was down from the previous day’s trading close of $45.40. Shares closed trading yesterday at $45.26 and spiked up after market to $50.00, equivalent to a 10% increase from the closing price. Taking a look at the daily chart we can see that the last time PAYC traded below these levels we have to go back to January 24th when it traded at $50.32.
Taking a closer look at the daily chart we can see that before the spike up PAYC had been in an overall downward trend dating back to October 24th, 2016 when it traded at $52.44. PAYC has a float of 37.31 million shares and traded 1.94 times the normal daily trading volume on Wednesday. For trading purposes, I would like to see PAYC open trading on Thursday above $48.50 and if it does I would be looking to take a long position at the bell. My stop loss would be $0.40 from my entry position fearing anything more than that and the stock would start to fill in the gap up.
Company Profile
Paycom Software, Inc. 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, 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. Paycom Software, Inc. was founded in 1998 and is headquartered in Oklahoma City, Oklahoma.