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

Oklahoma City | July 5, 2017

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

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Paycom Software, Inc. (NYSE: PAYC) simplifies business and employees’ lives through automated, command-driven HR and payroll technology that revolutionizes data access. From hire to retire, Paycom’s employee-first technology leverages AI and full-solution automation to streamline processes and drive efficiencies in a truly single database, providing a seamless experience for Paycom’s clients and their employees. With its industry-first AI engine, IWantTM, Paycom provides instant and accurate access to employee data without having to navigate or learn the software. For over 25 years, Paycom has been recognized for its innovative technology and workplace culture while serving businesses of all sizes in the U.S. and internationally.