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- Paycom is recommended as a buy due to its long-term growth potential and strong value proposition with its BETI product.
- The global HCM software industry is expected to grow, providing opportunities for cloud-based HCM solutions like PAYC.
- The revised sales strategy and international expansion are expected to drive customer satisfaction and future growth for PAYC.
Investment summary
My recommendation for Paycom (NYSE:PAYC) is a buy rating. I believe there are plenty of opportunities for PAYC to capture and grow in the long term. In particular, PAYC’s BEIT product has an extremely strong value proposition that I believe has immense pricing power that management is not leveraging at the moment. The revised sales strategy for customer relationship representatives to see through the entire lifecycle of each sale should also improve customer satisfaction, leading to potentially more cross-sell opportunities.
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