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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

About Paycom
Paycom Software, Inc. (NYSE: PAYC) is a cloud-based human capital management software provider that allows organizations of all sizes across the U.S. and internationally to set numerous HR and payroll tasks to “automatic” through employee-first technology. Built on a truly single database, Paycom’s full-solution automation manages the entire employment life cycle, helping organizations streamline processes and improve data accuracy. With its industry-first AI engine, IWant™, Paycom provides instant access to accurate employee data without requiring users to navigate or learn the software. For over 25 years, Paycom has been repeatedly recognized by third party reviewers as a leading payroll and HCM solution.