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Barron's - Paycom, Ultimate Taking Business from Paychex, ADP, Says Credit Suisse

Younger cloud companies Paycom and Ultimate Software are stealing the payroll processing business of ADP and Paychex, the more established “service bureaus,” concludes Credit Suisse software analyst Michael Nemeroff.

Shares of Paycom (PAYC), and Ultimate Software (ULTI) are both lower today despite a thumbs up from Credit Suisse software analyst Michael Nemeroff, who reiterates his Buy ratings on both, after reviewing trends at competitor Paychex (PAYX), and concluding Paychex and ADP (ADP) are both ceding business to Paycom and Ultimate.

Both Paycom and Ultimate compete for running the payroll processing of corporate clients.

To learn more, visit: http://www.barrons.com/articles/paycom-ultimate-taking-business-from-paychex-adp-says-credit-suisse-1499106163?mod=yahoobarrons&ru=yahoo&yptr=yahoo

About Paycom
For 25 years, Paycom Software, Inc. (NYSE:PAYC) has simplified businesses and the lives of their employees through easy-to-use HR and payroll technology to empower transparency through direct access to their data. And thanks to its industry-first solution, Beti®, employees now do their own payroll and are guided to find and fix costly errors before payroll submission. From onboarding and benefits enrollment to talent management and more, Paycom’s software streamlines processes, drives efficiencies and gives employees power over their own HR information, all in a single app. Recognized nationally for its technology and workplace culture, Paycom can now serve businesses of all sizes in the U.S. and internationally.