Bull of the Day: Paycom Software (PAYC)
Summary
Paycom Software ( PAYC - Free Report ) is a $9 billion provider of a cloud-based human capital management solutions delivered in the model of the decade, SaaS, or Software-as-a-Service.In early August, Paycom Software reported impressive second-quarter 2018 results, surpassing the Zacks Consensus Estimate on both the top and bottom lines, and ahead of the companys guided range.Management believes that Paycom’s mobile app, which meets all the functionality offered by employee self-service desktop application, positions it well for continued growth.The company also introduced various enhancements to its overall product offering as part of its monthly updates in the second quarter that were rolled out to its entire client base.Software and Biotech Are Eating the World Paycom Margins Adjusted gross profit increased 32.7% from the year-ago period to $108.3 million.