Paycom Software (PAYC)
Market Price (9/27/2026): $220.38 | Market Cap: $10.1 BilSector: Industrials | Industry: Human Resource & Employment Services
Paycom Software (PAYC)
Market Price (9/27/2026): $220.38Market Cap: $10.1 BilSector: IndustrialsIndustry: Human Resource & Employment Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.6%, FCF Yield is 5.6% Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 30% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 37%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27% Stock buyback supportStock Buyback 3Y Total is 2.0 Bil Low stock price volatilityVol 12M is 47% Megatrend and thematic driversMegatrends include Cloud Computing, and Automation & Robotics. Themes include Software as a Service (SaaS), and Process / Warehouse Automation. | Weak multi-year price returns2Y Excs Rtn is -4.2%, 3Y Excs Rtn is -92% | Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 59% Key risksPAYC key risks include [1] intense competition and a potentially saturated market that could pressure growth and pricing power and [2] significant data security vulnerabilities, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.6%, FCF Yield is 5.6% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 30% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 37%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27% |
| Stock buyback supportStock Buyback 3Y Total is 2.0 Bil |
| Low stock price volatilityVol 12M is 47% |
| Megatrend and thematic driversMegatrends include Cloud Computing, and Automation & Robotics. Themes include Software as a Service (SaaS), and Process / Warehouse Automation. |
| Weak multi-year price returns2Y Excs Rtn is -4.2%, 3Y Excs Rtn is -92% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 59% |
| Key risksPAYC key risks include [1] intense competition and a potentially saturated market that could pressure growth and pricing power and [2] significant data security vulnerabilities, Show more. |
Qualitative Assessment
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Updated on 9/15/2026
Paycom Software (PAYC) stock has gained about 60% since 5/31/2026 because of the following key factors:
1. Paycom reported a strong financial beat for its fiscal Q2 2026 (ended June 30, 2026) on August 5, 2026, with diluted non-GAAP earnings per share reaching $2.78, surpassing analyst consensus estimates of $2.38 by $0.40. Total revenue also exceeded expectations, growing 9.8% year-over-year to $531.2 million. This robust performance prompted management to raise its full-year 2026 revenue guidance to a range of $2.197 billion to $2.212 billion, representing 7% to 8% year-over-year growth, and its adjusted EBITDA guidance to between $1.007 billion and $1.022 billion, targeting a record margin of 46% at the midpoint. The stock experienced a significant surge, gaining 16.13% in after-hours trading following these announcements.
2. The company engaged in substantial share repurchases, which served to bolster shareholder value and earnings per share. During fiscal Q2 2026 alone, Paycom repurchased approximately 2.6 million shares for a total of $346 million. In the first six months of 2026, the company reduced its outstanding shares by 20%, repurchasing nearly 11 million shares for approximately $1.4 billion.
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Paycom Software (PAYC) stock has gained about 60% since 5/31/2026 because of the following key factors:
1. Paycom reported a strong financial beat for its fiscal Q2 2026 (ended June 30, 2026) on August 5, 2026, with diluted non-GAAP earnings per share reaching $2.78, surpassing analyst consensus estimates of $2.38 by $0.40. Total revenue also exceeded expectations, growing 9.8% year-over-year to $531.2 million. This robust performance prompted management to raise its full-year 2026 revenue guidance to a range of $2.197 billion to $2.212 billion, representing 7% to 8% year-over-year growth, and its adjusted EBITDA guidance to between $1.007 billion and $1.022 billion, targeting a record margin of 46% at the midpoint. The stock experienced a significant surge, gaining 16.13% in after-hours trading following these announcements.
2. The company engaged in substantial share repurchases, which served to bolster shareholder value and earnings per share. During fiscal Q2 2026 alone, Paycom repurchased approximately 2.6 million shares for a total of $346 million. In the first six months of 2026, the company reduced its outstanding shares by 20%, repurchasing nearly 11 million shares for approximately $1.4 billion.
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Updated on 9/15/2026
Paycom Software (PAYC) stock has gained about 60% since 5/31/2026 because of the following key factors:
1. Paycom reported a strong financial beat for its fiscal Q2 2026 (ended June 30, 2026) on August 5, 2026, with diluted non-GAAP earnings per share reaching $2.78, surpassing analyst consensus estimates of $2.38 by $0.40. Total revenue also exceeded expectations, growing 9.8% year-over-year to $531.2 million. This robust performance prompted management to raise its full-year 2026 revenue guidance to a range of $2.197 billion to $2.212 billion, representing 7% to 8% year-over-year growth, and its adjusted EBITDA guidance to between $1.007 billion and $1.022 billion, targeting a record margin of 46% at the midpoint. The stock experienced a significant surge, gaining 16.13% in after-hours trading following these announcements.
2. The company engaged in substantial share repurchases, which served to bolster shareholder value and earnings per share. During fiscal Q2 2026 alone, Paycom repurchased approximately 2.6 million shares for a total of $346 million. In the first six months of 2026, the company reduced its outstanding shares by 20%, repurchasing nearly 11 million shares for approximately $1.4 billion.
3. Paycom enhanced its product suite with significant innovations, expanding into new markets and improving existing offerings. In July 2026, the company launched "Asset Management," an automated solution that extends its reach into a new multi-billion-dollar total addressable market. Additionally, the introduction of "Project Arc," described as the largest system-wide release in the company's history, substantially improved the performance, scalability, and customization of its software, with some clients reporting a 4x increase in system performance. These advancements align with a growing demand for advanced HR technology and AI-driven solutions in the industry.
4. Positive sentiment from financial analysts and upward revisions to price targets indicated growing confidence in Paycom's trajectory. Following the strong fiscal Q2 2026 results and optimistic outlook, multiple analysts upgraded their ratings and increased their price targets. For example, UBS Group raised its price target from $205.00 to $285.00 with a "Buy" rating, while KeyCorp increased its target from $195.00 to $270.00 with an "Overweight" rating. The consensus price target among analysts also rose from $152 to $204.
5. Notable insider buying activity signaled strong internal conviction in the company's future performance. In the quarter preceding September 3, 2026, insiders purchased 38.3K shares of Paycom stock, valued at $5.2 million, demonstrating significant confidence from within the company.
Show less
Paycom Software (PAYC) stock has gained about 60% since 5/31/2026 because of the following key factors:
1. Paycom reported a strong financial beat for its fiscal Q2 2026 (ended June 30, 2026) on August 5, 2026, with diluted non-GAAP earnings per share reaching $2.78, surpassing analyst consensus estimates of $2.38 by $0.40. Total revenue also exceeded expectations, growing 9.8% year-over-year to $531.2 million. This robust performance prompted management to raise its full-year 2026 revenue guidance to a range of $2.197 billion to $2.212 billion, representing 7% to 8% year-over-year growth, and its adjusted EBITDA guidance to between $1.007 billion and $1.022 billion, targeting a record margin of 46% at the midpoint. The stock experienced a significant surge, gaining 16.13% in after-hours trading following these announcements.
2. The company engaged in substantial share repurchases, which served to bolster shareholder value and earnings per share. During fiscal Q2 2026 alone, Paycom repurchased approximately 2.6 million shares for a total of $346 million. In the first six months of 2026, the company reduced its outstanding shares by 20%, repurchasing nearly 11 million shares for approximately $1.4 billion.
3. Paycom enhanced its product suite with significant innovations, expanding into new markets and improving existing offerings. In July 2026, the company launched "Asset Management," an automated solution that extends its reach into a new multi-billion-dollar total addressable market. Additionally, the introduction of "Project Arc," described as the largest system-wide release in the company's history, substantially improved the performance, scalability, and customization of its software, with some clients reporting a 4x increase in system performance. These advancements align with a growing demand for advanced HR technology and AI-driven solutions in the industry.
4. Positive sentiment from financial analysts and upward revisions to price targets indicated growing confidence in Paycom's trajectory. Following the strong fiscal Q2 2026 results and optimistic outlook, multiple analysts upgraded their ratings and increased their price targets. For example, UBS Group raised its price target from $205.00 to $285.00 with a "Buy" rating, while KeyCorp increased its target from $195.00 to $270.00 with an "Overweight" rating. The consensus price target among analysts also rose from $152 to $204.
5. Notable insider buying activity signaled strong internal conviction in the company's future performance. In the quarter preceding September 3, 2026, insiders purchased 38.3K shares of Paycom stock, valued at $5.2 million, demonstrating significant confidence from within the company.
Show less
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Stock Movement Drivers
Fundamental Drivers
The 58.1% change in PAYC stock from 5/31/2026 to 9/26/2026 was primarily driven by a 36.6% change in the company's P/E Multiple.| (LTM values as of) | 5312026 | 9262026 | Change |
|---|---|---|---|
| Stock Price ($) | 139.44 | 220.46 | 58.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,093 | 2,141 | 2.3% |
| Net Income Margin (%) | 22.4% | 22.8% | 1.5% |
| P/E Multiple | 15.2 | 20.7 | 36.6% |
| Shares Outstanding (Mil) | 51 | 46 | 11.5% |
| Cumulative Contribution | 58.1% |
Market Drivers
5/31/2026 to 9/26/2026| Return | Correlation | |
|---|---|---|
| PAYC | 58.1% | |
| Market (SPY) | 2.2% | -1.3% |
| Sector (XLI) | -1.3% | -22.0% |
Fundamental Drivers
The 76.5% change in PAYC stock from 2/28/2026 to 9/26/2026 was primarily driven by a 37.0% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 9262026 | Change |
|---|---|---|---|
| Stock Price ($) | 124.94 | 220.46 | 76.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,052 | 2,141 | 4.3% |
| Net Income Margin (%) | 22.1% | 22.8% | 3.1% |
| P/E Multiple | 15.1 | 20.7 | 37.0% |
| Shares Outstanding (Mil) | 55 | 46 | 19.8% |
| Cumulative Contribution | 76.5% |
Market Drivers
2/28/2026 to 9/26/2026| Return | Correlation | |
|---|---|---|
| PAYC | 76.5% | |
| Market (SPY) | 13.0% | -4.3% |
| Sector (XLI) | -3.3% | -26.3% |
Fundamental Drivers
The -2.0% change in PAYC stock from 8/31/2025 to 9/26/2026 was primarily driven by a -31.8% change in the company's P/E Multiple.| (LTM values as of) | 8312025 | 9262026 | Change |
|---|---|---|---|
| Stock Price ($) | 225.02 | 220.46 | -2.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,960 | 2,141 | 9.2% |
| Net Income Margin (%) | 21.2% | 22.8% | 7.4% |
| P/E Multiple | 30.4 | 20.7 | -31.8% |
| Shares Outstanding (Mil) | 56 | 46 | 22.4% |
| Cumulative Contribution | -2.0% |
Market Drivers
8/31/2025 to 9/26/2026| Return | Correlation | |
|---|---|---|
| PAYC | -2.0% | |
| Market (SPY) | 20.9% | 3.8% |
| Sector (XLI) | 13.6% | -16.3% |
Fundamental Drivers
The -23.4% change in PAYC stock from 8/31/2023 to 9/26/2026 was primarily driven by a -60.7% change in the company's P/E Multiple.| (LTM values as of) | 8312023 | 9262026 | Change |
|---|---|---|---|
| Stock Price ($) | 287.71 | 220.46 | -23.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,558 | 2,141 | 37.4% |
| Net Income Margin (%) | 20.3% | 22.8% | 12.3% |
| P/E Multiple | 52.7 | 20.7 | -60.7% |
| Shares Outstanding (Mil) | 58 | 46 | 26.4% |
| Cumulative Contribution | -23.4% |
Market Drivers
8/31/2023 to 9/26/2026| Return | Correlation | |
|---|---|---|
| PAYC | -23.4% | |
| Market (SPY) | 77.8% | 25.7% |
| Sector (XLI) | 64.4% | 20.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PAYC Return | -8% | -25% | -33% | -0% | -22% | 40% | -50% |
| Peers Return | 32% | -15% | 17% | 25% | -10% | -9% | 34% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 105% |
Monthly Win Rates [3] | |||||||
| PAYC Win Rate | 50% | 50% | 42% | 42% | 42% | 44% | |
| Peers Win Rate | 58% | 40% | 53% | 65% | 45% | 47% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| PAYC Max Drawdown | -32% | -37% | -59% | -32% | -40% | -29% | |
| Peers Max Drawdown | -17% | -32% | -22% | -18% | -32% | -38% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ADP, PAYX, PCTY, WDAY, ORCL. See PAYC Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/25/2026 (YTD)
How Low Can It Go
| Event | PAYC | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -10.5% | -18.8% |
| % Gain to Breakeven | 11.8% | 23.1% |
| Time to Breakeven | 1 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -17.8% | -6.7% |
| % Gain to Breakeven | 21.7% | 7.1% |
| Time to Breakeven | 28 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -49.1% | -33.7% |
| % Gain to Breakeven | 96.6% | 50.9% |
| Time to Breakeven | 63 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -24.4% | -19.2% |
| % Gain to Breakeven | 32.3% | 23.8% |
| Time to Breakeven | 38 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -22.0% | -3.7% |
| % Gain to Breakeven | 28.2% | 3.9% |
| Time to Breakeven | 91 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -45.0% | -12.2% |
| % Gain to Breakeven | 81.8% | 13.9% |
| Time to Breakeven | 105 days | 62 days |
In The Past
Paycom Software's stock fell -10.5% during the 2025 US Tariff Shock. Such a loss loss requires a 11.8% gain to breakeven.
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| Event | PAYC | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -49.1% | -33.7% |
| % Gain to Breakeven | 96.6% | 50.9% |
| Time to Breakeven | 63 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -24.4% | -19.2% |
| % Gain to Breakeven | 32.3% | 23.8% |
| Time to Breakeven | 38 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -22.0% | -3.7% |
| % Gain to Breakeven | 28.2% | 3.9% |
| Time to Breakeven | 91 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -45.0% | -12.2% |
| % Gain to Breakeven | 81.8% | 13.9% |
| Time to Breakeven | 105 days | 62 days |
In The Past
Paycom Software's stock fell -10.5% during the 2025 US Tariff Shock. Such a loss loss requires a 11.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Paycom Software (PAYC)
Paycom Software, Inc. (PAYC) is a technology company specializing in cloud-based Human Capital Management (HCM) solutions. Delivered as software-as-a-service (SaaS), Paycom's platform empowers businesses to manage the entire employment life cycle, from initial recruitment to an employee's eventual retirement. The company's core offering integrates various HR functionalities and data analytics into a single system, designed to streamline and optimize workforce management for its clients.
The company's comprehensive HCM solution features a broad suite of applications. These include talent acquisition tools for applicant tracking, background checks, and onboarding; time and labor management functionalities such as time and attendance tracking, scheduling, and geofencing; and essential payroll applications covering payroll and tax management, expense management, and garnishment management. Paycom also provides talent management modules for employee self-service, performance management, compensation budgeting, and learning, alongside solutions for benefits administration, compliance, and direct communication.
Paycom Software primarily serves small to mid-sized companies across the United States. By offering a unified, robust platform, Paycom aims to simplify complex HR processes, enhance efficiency, and provide valuable insights through data analytics for its client base. This integrated approach helps businesses better manage their human capital, ensuring consistency and accuracy across all HR, payroll, and talent management operations.
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- Salesforce for human resources and payroll.
- A cloud-native ADP for HR and payroll.
- Workday for small to mid-sized businesses.
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- Cloud-based Human Capital Management (HCM) Solution: An overarching software-as-a-service platform that manages the entire employee life cycle from recruitment to retirement.
- Talent Acquisition Suite: Applications covering the hiring process, including applicant tracking, background checks, onboarding, and tax credit services.
- Time and Labor Management Suite: Tools for tracking employee time and attendance, scheduling, labor allocation, and utilizing location-based technologies like geofencing.
- Payroll Applications Suite: Comprehensive services for managing payroll, tax compliance, expense reporting, mileage tracking, and garnishments.
- Talent Management Suite: Features designed for employee self-service, performance management, compensation budgeting, and learning and development programs.
- Benefits Administration: Services for managing and integrating employee benefits, including COBRA administration and direct carrier communication.
- Compliance and Regulatory Management: Tools to assist with government compliance, Affordable Care Act reporting, and workforce data management like vaccination tracking (Clue).
- Manager and Employee Self-Service Applications: Mobile-friendly tools such as "Manager on-the-go" and "Ask Here" that enable employees and supervisors to perform various HR tasks directly.
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Paycom Software (PAYC) primarily provides its cloud-based Human Capital Management (HCM) solutions as software-as-a-service to other companies.
Paycom's customer base consists of a broad and diverse range of small to mid-sized companies across various industries within the United States. Unlike companies that may rely on a few large enterprise clients, Paycom's business model is characterized by serving a large number of these smaller and medium-sized organizations.
Publicly available information, including the company's financial filings, indicates that no single customer accounts for a significant portion of Paycom's total revenues. Therefore, there are no specific "major customers" (named companies) that can be identified and listed with their symbols, as Paycom's revenue is distributed across a wide array of client businesses rather than concentrated among a few large entities.
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Paycom Software, Inc. (PAYC) Management Team:
Chad Richison, Chief Executive Officer and Chairman
Chad Richison founded Paycom in 1998 and has served as its Chief Executive Officer, President, and Chairman since its inception. Prior to founding Paycom, he began his career in sales with ADP, a global payroll provider, before moving to work for a smaller, regional payroll provider. Under his leadership, Paycom became one of the first companies to process payroll entirely online and went public on the New York Stock Exchange in 2014.
Bob Foster, Chief Financial Officer
Bob Foster has served as Paycom's Chief Financial Officer since February 2025. Before joining Paycom in 2022, Mr. Foster served eight years as CEO and chairman of a payroll company, significantly growing its revenue and expanding its offices. He also spent 31 years at Ernst & Young, where he served as a senior partner managing several of the firm's largest accounts at the time.
Randy Peck, Chief Operating Officer
Randy Peck was appointed Paycom's Chief Operating Officer in May 2024. He joined Paycom in 2002 and has held various positions across operations, client service, product management, and sales, including Director of Software Strategy, Director of Operations, and Director of Client Service. Mr. Peck has more than 34 years of management experience in the payroll and human capital management (HCM) space.
Jeff York, Chief Sales Officer
Jeff York returned to Paycom as Chief Sales Officer, effective January 23, 2026. He previously served as CSO at Paycom from 2007 to 2021 and has since been serving as Paycom's Leadership Strategist. York is a proven sales strategist with a deep understanding of Paycom's model and culture.
Matt Paque, Chief Legal Officer
Matt Paque was promoted to Chief Legal Officer in June 2024, and will continue to oversee all legal affairs of the company. Paque, who joined Paycom in 2017, brings over 20 years of legal experience. Before his tenure at Paycom, he worked in private practice and was assistant general counsel at a global publicly traded manufacturing company.
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Key Risks to Paycom Software (PAYC)
- Cannibalization of Revenue by Beti: Paycom's internally developed, employee-driven payroll solution, Beti, designed to automate payroll processes, has inadvertently led to a "creative destruction" of the company's traditional service-related revenue streams. While innovative, Beti's effectiveness in reducing the need for additional payroll runs and cross-selling opportunities has contributed to stagnant revenue growth and a strategic pivot for the company.
- Intense Competition and Market Saturation: Paycom operates within a highly competitive human capital management (HCM) software market, facing significant challenges from established vendors such as Automatic Data Processing (ADP) and Paychex, as well as direct rivals like Paylocity. The U.S. mid-market for HCM solutions is highly penetrated, requiring Paycom to aggressively compete for market share rather than relying on expanding into new territories. The pervasive integration of artificial intelligence across HR software further intensifies this competitive landscape, pressuring all providers, including Paycom, to continuously innovate and differentiate their offerings.
- Cybersecurity Risks and Data Breaches: As a cloud-based provider of comprehensive HCM solutions, Paycom collects, processes, and stores a large volume of sensitive personal and financial data belonging to its clients and their employees. Consequently, the company is exposed to substantial cybersecurity risks. Any data breach, system defect, or service outage could lead to significant financial penalties, legal liabilities, regulatory scrutiny, severe damage to its reputation, and a loss of existing and potential clients. Paycom has acknowledged extensive risk factors related to cybersecurity in its filings and has experienced data breaches in the past, underscoring the ongoing nature of this threat.
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Here is an overview of the addressable markets for Paycom Software's main products and services:
Paycom Software, Inc. (PAYC) primarily serves small to mid-sized companies in the United States with its cloud-based human capital management (HCM) solution. The addressable markets for its main product categories are substantial within the U.S. region.
- Overall Human Capital Management (HCM) Software Market (U.S.): Paycom's management estimated its total addressable market to be approximately $24 billion, with an anticipated annual growth rate of 9-10% as of January 2023. More broadly, the U.S. human capital management market size was valued at $10.14 billion in 2024 and is projected to reach around $24.73 billion by 2034. Another report indicates that nearly 2 million companies in the United States collectively spend $13.3 billion on HCM software. The U.S. Human Capital Management (HCM) Software market is projected at $5.62 billion in 2025. Globally, the human capital management software market was valued at $31.49 billion in 2024, projected to grow to $34.37 billion in 2025, and is expected to reach approximately $75.45 billion by 2034.
- HR & Payroll Software Market (U.S.): The U.S. HR & Payroll Software market was valued at $16.0 billion in 2024 and is estimated to remain at $16.0 billion in 2025. Another estimate places the U.S. HR and payroll software market at $20.6 billion in 2024. The U.S. HR & payroll software market was valued at $20.9 billion in 2024 and is expected to reach $29.2 billion by 2032. Payroll management alone captured 43.78% of HCM software revenue in 2025.
- Talent Acquisition Software Market (U.S.): The U.S. Talent Acquisition Software Market was valued at $6.89 billion in 2025 and is projected to reach $13.55 billion by 2032, exhibiting a CAGR of 8.82% from 2026-2033. The U.S. recruitment software market reached $592.0 million in 2024 and is anticipated to reach $1,358.0 million by 2033.
- Talent Management Software Market (North America/Global): The global talent management software market was valued at $10.1 billion in 2022 and is projected to reach $30.8 billion by 2032. North America held the largest share of the talent management software market, accounting for 34.4% of revenue in 2023. The U.S. talent management software market is specifically projected to reach $3.43 billion by 2026.
- Time & Attendance Software Market (North America/Global): The global time and attendance software market was valued at $3.06 billion in 2024 and is expected to reach $5.58 billion by 2033. Another source indicates the global market will grow from $3.92 billion in 2025 to $8.43 billion by 2031. North America holds a leading position in this market, with a market share of over 37.8% in 2024. The time and attendance software market size is estimated at $4.31 billion in 2026, projected to grow to $6.37 billion by 2031.
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Paycom Software (NYSE: PAYC) is expected to drive future revenue growth over the next two to three years through several key initiatives:
- Client Acquisition and Market Share Expansion: Paycom continues to see significant opportunities in its addressable market. The company noted that it has captured less than 5% of its total addressable market, indicating substantial room for new client additions. Paycom reported a 4% growth in client count in 2025, reaching approximately 39,200 clients. This expansion into a large untapped market is a core driver for increasing revenue.
- Increased Adoption and Expansion of AI and Automation Solutions: Paycom is heavily investing in and promoting its proprietary automation and AI tools. Key products like Beti (Better Employee Transaction Interface), IWant, and GONE are central to its strategy. Beti automates payroll processing, reducing errors and enhancing client satisfaction. The AI-powered IWant tool, fully rolled out in 2025, aims to improve user experience, drive productivity, and reduce switching costs for new clients by responding to millions of queries and demonstrating a high return on investment (ROI). These innovative solutions are designed to differentiate Paycom and attract new business.
- Improved Client Retention Rate: Paycom's annual revenue retention rate improved to 91% in 2025, up from 90% in 2024. Management emphasized that client retention is a "definite focus," attributing the improvement to the value clients realize through its full-solution automation and world-class service. A higher retention rate ensures a more predictable and growing stream of recurring revenue.
- Upmarket Expansion: While Paycom primarily serves small to mid-sized companies, it has demonstrated success in moving "upmarket," with revenue from clients employing over 1,000 individuals growing faster than its overall revenue. This indicates a strategic opportunity to penetrate larger enterprises, expanding its customer base within a higher-value segment.
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Share Repurchases
- Paycom Software authorized an additional $200 million for share repurchases on March 5, 2026.
- Since July 2024, the company has completed approximately $1.45 billion in aggregate share repurchases.
- The current share repurchase plan is set to expire on August 15, 2026.
Share Issuance
- Paycom's shares outstanding have shown a general decline over the last three to five years, from approximately 0.058 billion (58 million) in 2023 to 0.055 billion (55 million) by December 31, 2025.
- This trend reflects a net reduction in shares, primarily due to share repurchases.
Capital Expenditures
- Capital expenditures were $34.0 million in 2021, $40.7 million in 2022, and $56.9 million in 2023.
- For fiscal year 2024, Paycom Software reported capital expenditures of $192.9 million.
Peer Outperformance in Human Resource & Employment Services
PAYC has trailed 70% of its 20 Human Resource & Employment Services peers over 5Y. Among the peers that beat it is PAYX. Human Resource & Employment Services ranks 21st of 23 industries in Industrials by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Human Resource & Employment Services constituents that PAYC has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
45%
of 20 industry peers · 2.3% return
3Y
55%
of 20 industry peers · -12.1% return
5Y
30%
of 20 industry peers · -55.3% return
Human Resource & Employment Services peers with revenue growth within 4pp of PAYC's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| PAYC | Paycom Software | 11.2% | 20.7x | 2.3% | -12.1% | -55.3% | — |
| PAYX | Paychex | 9.2% | 20.0x | -17.5% | -3.6% | 8.8% | +64pp |
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Industrials sector, ranked by 5Y. Human Resource & Employment Services is PAYC's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering | 31 | 4.3% | 110.6% | 183.4% | FIX 2185% · STRL 2110% · CDNL 2055% |
| Marine Transportation | 9 | 72.3% | 97.9% | 148.9% | HOS 43005% · ASC 465% · MATX 188% |
| Construction Machinery & Heavy Transportation Equipment | 13 | 5.4% | 46.5% | 121.9% | CAT 348% · ALSN 240% · WAB 229% |
| Aerospace & Defense | 55 | -7.5% | 70.5% | 76.3% | ATI 980% · FTAI 863% · HWM 615% |
| Rail Transportation | 7 | 19.3% | 61.1% | 50.3% | FSTR 137% · CSX 64% · RAIL 53% |
| Trading Companies & Distributors | 19 | 4.4% | 36.4% | 47.5% | DXPE 535% · AIT 278% · WCC 217% |
| Industrial Machinery & Supplies & Components | 72 | 11.1% | 53.8% | 43.7% | CRS 1139% · PSIX 1112% · EROC 624% |
| Diversified Support Services | 33 | 16.3% | 34.2% | 31.9% | LIME 3297% · TH 422% · WLFC 352% |
| Cargo Ground Transportation | 16 | 33.0% | -0.3% | 24.8% | XPO 234% · R 212% · CVLG 133% |
| Electrical Components & Equipment | 41 | 7.0% | 58.4% | 22.0% | POWL 2282% · BE 1336% · VRT 954% |
| Building Products | 34 | -12.4% | 2.4% | 18.2% | LMB 633% · GFF 387% · PPIH 315% |
| Industrial Conglomerates | 17 | 9.4% | 5.0% | -3.2% | RCMT 504% · CSW 136% · DD 72% |
| Passenger Ground Transportation | 3 | -32.0% | 44.0% | -5.1% | UBER 47% · CAR -5% · LYFT -73% |
| Agricultural & Farm Machinery | 17 | 4.5% | 0.8% | -8.1% | BLBD 173% · DE 109% · GENC 55% |
| Environmental & Facilities Services | 30 | -15.4% | 19.5% | -8.6% | CECO 895% · ADUR 437% · GEO 335% |
| Research & Consulting Services | 13 | -16.9% | -26.7% | -14.0% | HURN 201% · CRAI 76% · GRNQ 69% |
| Data Processing & Outsourced Services | 6 | -34.1% | -15.1% | -29.8% | EXLS 40% · BR 7% · G -27% |
| Passenger Airlines | 11 | 19.0% | 22.6% | -33.2% | LTM 2741% · UAL 132% · DAL 101% |
| Office Services & Supplies | 9 | 15.7% | 19.6% | -36.0% | PBI 161% · TILE 138% · HNI 49% |
| Air Freight & Logistics | 12 | -20.3% | -22.2% | -39.1% | CHRW 85% · FDX 74% · EXPD 60% |
| Human Resource & Employment Services ← | 21 | 4.2% | -19.7% | -39.1% | BBSI 66% · ADP 46% · PAYX 9% |
| Security & Alarm Services | 10 | -22.8% | 22.3% | -45.9% | CIX 157% · MG 114% · NL 73% |
| Airport Services | 3 | -75.0% | -78.5% | -68.2% | JOBY -37% · ASLE -68% · UP -100% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 166.40 |
| Mkt Cap | 36.1 |
| Rev LTM | 6,602 |
| Op Inc LTM | 1,220 |
| FCF LTM | 2,017 |
| FCF 3Y Avg | 1,823 |
| CFO LTM | 2,252 |
| CFO 3Y Avg | 2,025 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 11.0% |
| Rev Chg 3Y Avg | 11.2% |
| Rev Chg Q | 9.8% |
| QoQ Delta Rev Chg LTM | 2.3% |
| Op Inc Chg LTM | 17.7% |
| Op Inc Chg 3Y Avg | 16.2% |
| Op Mgn LTM | 26.3% |
| Op Mgn 3Y Avg | 26.1% |
| QoQ Delta Op Mgn LTM | 0.5% |
| CFO/Rev LTM | 30.3% |
| CFO/Rev 3Y Avg | 29.9% |
| FCF/Rev LTM | 26.7% |
| FCF/Rev 3Y Avg | 22.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 36.1 |
| P/S | 4.7 |
| P/Op Inc | 18.2 |
| P/EBIT | 17.0 |
| P/E | 23.8 |
| P/CFO | 15.1 |
| Total Yield | 5.6% |
| Dividend Yield | 0.8% |
| FCF Yield 3Y Avg | 5.1% |
| D/E | 0.1 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -8.2% |
| 3M Rtn | 26.7% |
| 6M Rtn | 34.4% |
| 12M Rtn | -14.9% |
| 3Y Rtn | -7.9% |
| 1M Excs Rtn | -6.6% |
| 3M Excs Rtn | 21.5% |
| 6M Excs Rtn | 10.4% |
| 12M Excs Rtn | -32.0% |
| 3Y Excs Rtn | -85.3% |
Comparison Analyses
Price Behavior
Price Behavior
| Market Price | $220.46 | |
| Market Cap ($ Bil) | 10.1 | |
| First Trading Date | 04/15/2014 | |
| Distance from 52W High | -8.3% | |
| 50 Days | 200 Days | |
| DMA Price | $205.37 | $152.91 |
| DMA Trend | up | up |
| Distance from DMA | 7.3% | 44.2% |
| 3M | 1YR | |
| Volatility | 62.2% | 47.5% |
| Downside Capture | -185.41 | 21.12 |
| Upside Capture | 123.89 | 19.72 |
| Correlation (SPY) | -4.9% | 3.1% |
PAYC Betas & Captures as of 8/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.90 | -0.45 | -0.18 | -0.26 | 0.12 | 0.77 |
| Up Beta | 1.90 | -1.22 | -1.24 | -1.37 | -0.47 | 0.92 |
| Down Beta | 4.69 | 0.06 | 0.99 | 0.83 | 0.46 | 0.86 |
| Up Capture | 311% | 226% | 108% | 54% | 16% | 21% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 14 | 27 | 38 | 72 | 128 | 390 |
| Down Capture | -582% | -384% | -204% | -141% | 27% | 90% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 7 | 15 | 26 | 55 | 123 | 361 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PAYC | |
|---|---|---|---|---|
| PAYC | 2.4% | 47.4% | 0.19 | - |
| Sector ETF (XLI) | 13.0% | 17.2% | 0.54 | -17.4% |
| Equity (SPY) | 17.7% | 13.0% | 0.98 | 3.2% |
| Gold (GLD) | 14.7% | 29.3% | 0.46 | -12.7% |
| Commodities (DBC) | 44.3% | 20.7% | 1.66 | -2.7% |
| Real Estate (VNQ) | 4.5% | 13.6% | 0.07 | 11.2% |
| Bitcoin (BTCUSD) | -25.9% | 44.8% | -0.54 | 6.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PAYC | |
|---|---|---|---|---|
| PAYC | -14.0% | 46.1% | -0.17 | - |
| Sector ETF (XLI) | 12.9% | 17.6% | 0.56 | 36.3% |
| Equity (SPY) | 13.3% | 17.2% | 0.59 | 45.8% |
| Gold (GLD) | 19.2% | 18.8% | 0.83 | -0.8% |
| Commodities (DBC) | 10.8% | 19.6% | 0.43 | 7.7% |
| Real Estate (VNQ) | 0.9% | 18.9% | -0.06 | 38.5% |
| Bitcoin (BTCUSD) | 12.2% | 52.6% | 0.41 | 22.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PAYC | |
|---|---|---|---|---|
| PAYC | 16.6% | 45.3% | 0.51 | - |
| Sector ETF (XLI) | 13.4% | 20.0% | 0.59 | 44.8% |
| Equity (SPY) | 15.5% | 17.9% | 0.73 | 54.6% |
| Gold (GLD) | 12.1% | 16.4% | 0.61 | 0.3% |
| Commodities (DBC) | 8.5% | 18.1% | 0.38 | 14.3% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.19 | 46.2% |
| Bitcoin (BTCUSD) | 63.8% | 66.2% | 1.03 | 15.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 9/8/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | 23.6% | 20.9% | 37.8% |
| 5/6/2026 | 9.6% | 6.8% | 9.2% |
| 2/11/2026 | 0.9% | 1.7% | 6.2% |
| 11/5/2025 | -10.7% | -8.7% | -10.5% |
| 8/6/2025 | 4.5% | -0.8% | 0.5% |
| 5/7/2025 | 9.0% | 12.5% | 16.4% |
| 2/12/2025 | 2.4% | 3.5% | 0.6% |
| 10/30/2024 | 21.4% | 34.2% | 34.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 9 | 12 |
| # Negative | 11 | 15 | 12 |
| Median Positive | 8.9% | 10.0% | 7.7% |
| Median Negative | -7.4% | -7.5% | -10.2% |
| Max Positive | 23.6% | 34.2% | 37.8% |
| Max Negative | -38.5% | -31.5% | -25.7% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | 23.6% | 20.9% | 37.8% |
| 5/6/2026 | 9.6% | 6.8% | 9.2% |
| 2/11/2026 | 0.9% | 1.7% | 6.2% |
| 11/5/2025 | -10.7% | -8.7% | -10.5% |
| 8/6/2025 | 4.5% | -0.8% | 0.5% |
| 5/7/2025 | 9.0% | 12.5% | 16.4% |
| 2/12/2025 | 2.4% | 3.5% | 0.6% |
| 10/30/2024 | 21.4% | 34.2% | 34.9% |
| 7/31/2024 | 0.4% | -8.4% | -1.7% |
| 5/1/2024 | -10.5% | -7.5% | -21.8% |
| 2/7/2024 | -1.6% | -4.9% | -8.8% |
| 10/31/2023 | -38.5% | -31.5% | -25.7% |
| 8/1/2023 | -19.2% | -21.4% | -20.7% |
| 5/2/2023 | 1.7% | -6.9% | -2.5% |
| 2/7/2023 | -6.8% | -5.8% | -17.1% |
| 11/1/2022 | -7.7% | -11.0% | 1.0% |
| 8/2/2022 | 4.3% | 10.0% | 3.9% |
| 5/3/2022 | 13.8% | -1.6% | 5.1% |
| 2/8/2022 | 8.9% | 3.9% | -7.6% |
| 11/2/2021 | -7.4% | -8.3% | -20.6% |
| 8/3/2021 | 10.7% | 14.6% | 23.0% |
| 5/4/2021 | -3.7% | -9.3% | -9.8% |
| 2/10/2021 | -4.3% | -5.7% | -9.7% |
| 11/4/2020 | -6.1% | -4.0% | 10.0% |
| SUMMARY STATS | |||
| # Positive | 13 | 9 | 12 |
| # Negative | 11 | 15 | 12 |
| Median Positive | 8.9% | 10.0% | 7.7% |
| Median Negative | -7.4% | -7.5% | -10.2% |
| Max Positive | 23.6% | 34.2% | 37.8% |
| Max Negative | -38.5% | -31.5% | -25.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/19/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/20/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/15/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/16/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/19/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/20/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/15/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/16/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 02/17/2022 | 10-K |
| 09/30/2021 | 11/04/2021 | 10-Q |
| 06/30/2021 | 08/05/2021 | 10-Q |
| 03/31/2021 | 05/06/2021 | 10-Q |
| 12/31/2020 | 02/18/2021 | 10-K |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/06/2020 | 10-Q |
| 03/31/2020 | 04/30/2020 | 10-Q |
| 12/31/2019 | 02/13/2020 | 10-K |
| 09/30/2019 | 10/31/2019 | 10-Q |
Recent Forward Guidance
Updated 8/6/2026Latest: Q2 2026 Earnings Reported 8/5/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Total Revenue | Reported | 2.20 Bil | 2.20 Bil | 2.21 Bil | 0.9% | Raised | Guidance: 2.19 Bil for 2026 | |
| 2026 Revenue Growth | Reported | 7.0% | 7.5% | 8.0% | 15.4% | 1.0% | Raised | Guidance: 6.5% for 2026 |
| 2026 Recurring and other revenue growth | Reported | 8.0% | 8.5% | 9.0% | 13.3% | 1.0% | Raised | Guidance: 7.5% for 2026 |
| 2026 Adjusted EBITDA | Reported | 1.01 Bil | 1.01 Bil | 1.02 Bil | 5.7% | Raised | Guidance: 960.00 Mil for 2026 | |
| 2026 Interest on funds held for clients | Reported | 105.00 Mil | 1.9% | Raised | Guidance: 103.00 Mil for 2026 | |||
Prior: Q1 2026 Earnings Reported 5/6/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Total Revenue | Reported | 2.17 Bil | 2.19 Bil | 2.19 Bil | 0 | Affirmed | Guidance: 2.19 Bil for 2026 | |
| 2026 Revenue Growth | Reported | 6.0% | 6.5% | 7.0% | 0 | Affirmed | Guidance: 6.5% for 2026 | |
| 2026 Recurring and other revenue growth | Reported | 7.0% | 7.5% | 8.0% | 0 | Affirmed | Guidance: 7.5% for 2026 | |
| 2026 Adjusted EBITDA | Reported | 950.00 Mil | 960.00 Mil | 970.00 Mil | 0 | Affirmed | Guidance: 960.00 Mil for 2026 | |
| 2026 Interest on funds held for clients | Reported | 103.00 Mil | 0 | Affirmed | Guidance: 103.00 Mil for 2026 | |||
Q4 2025 Earnings Reported 2/11/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Total Revenue | Reported | 2.17 Bil | 2.19 Bil | 2.19 Bil | 6.6% | Higher New | Actual: 2.05 Bil for 2025 | |
| 2026 Revenue Growth | Reported | 6.0% | 6.5% | 7.0% | ||||
| 2026 Recurring and other revenue growth | Reported | 7.0% | 7.5% | 8.0% | -2.5% | Lower New | Actual: 10.0% for 2025 | |
| 2026 Adjusted EBITDA | Reported | 950.00 Mil | 960.00 Mil | 970.00 Mil | 9.5% | Higher New | Actual: 877.00 Mil for 2025 | |
| 2026 Interest on funds held for clients | Reported | 103.00 Mil | -8.8% | Lower New | Actual: 113.00 Mil for 2025 | |||
Q3 2025 Earnings Reported 11/5/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Total Revenue | Reported | 2.04 Bil | 2.05 Bil | 2.06 Bil | 0 | Affirmed | Guidance: 2.05 Bil for 2025 | |
| 2025 Recurring and other revenue growth | Reported | 10.0% | 0 | Affirmed | Guidance: 10.0% for 2025 | |||
| 2025 Adjusted EBITDA | Reported | 872.00 Mil | 877.00 Mil | 882.00 Mil | 0 | Affirmed | Guidance: 877.00 Mil for 2025 | |
| 2025 Interest on funds held for clients | Reported | 113.00 Mil | 0 | Affirmed | Guidance: 113.00 Mil for 2025 | |||
Insider Activity
Updated 8/31/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hadlock, Terrell Shane | President/Chief Client Officer | Direct | Sell | 8312026 | 240.07 | 241 | 57,857 | 16,783,534 | Form |
| 2 | Hadlock, Terrell Shane | President/Chief Client Officer | Direct | Sell | 8312026 | 237.60 | 2,577 | 612,306 | 16,668,411 | Form |
| 3 | Peck, Randall | Chief Operating Officer | Direct | Sell | 5182026 | 140.50 | 2,500 | 351,250 | 7,777,378 | Form |
| 4 | Foster, Robert D | Chief Financial Officer | Direct | Sell | 12112025 | 162.66 | 1,300 | 211,458 | 2,398,747 | Form |
| 5 | Peck, Randall | Chief Operating Officer | Direct | Sell | 12052025 | 165.85 | 2,192 | 363,541 | 7,828,402 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hadlock, Terrell Shane | President/Chief Client Officer | Direct | Sell | 8312026 | 240.07 | 241 | 57,857 | 16,783,534 | Form |
| 2 | Hadlock, Terrell Shane | President/Chief Client Officer | Direct | Sell | 8312026 | 237.60 | 2,577 | 612,306 | 16,668,411 | Form |
| 3 | Peck, Randall | Chief Operating Officer | Direct | Sell | 5182026 | 140.50 | 2,500 | 351,250 | 7,777,378 | Form |
| 4 | Foster, Robert D | Chief Financial Officer | Direct | Sell | 12112025 | 162.66 | 1,300 | 211,458 | 2,398,747 | Form |
| 5 | Peck, Randall | Chief Operating Officer | Direct | Sell | 12052025 | 165.85 | 2,192 | 363,541 | 7,828,402 | Form |
| 6 | Smith, Bradley Scott | Chief Information Officer | Bradley Scott Smith Revocable Trust, dated October 30, 2017 | Sell | 9162025 | 223.27 | 1,500 | 334,900 | 5,477,395 | Form |
Investor Activity (13F)
Updated Sep 27, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
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Industry Resources
| Industrials Resources |
| IndustryWeek |
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| Human Resource & Employment Services Resources |
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| HR Dive |
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| SeekingAlpha | ValueLine |
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| CNBC | Etrade |
| MarketWatch | Unusual Whales |
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