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Is Paycom (PAYC) A Smart Long-Term Buy?

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  • PAYC

Polen Capital, an investment management firm, published its “Polen U.S. SMID Company Growth Fund” third quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly net return of 1.42% was delivered by the fund for the third quarter of 2021, outperforming its Russell 2500 Growth benchmark that delivered a -3.53% return for the same period.

U.S. SMID Company Growth Fund, in its Q3 2021 investor letter, mentioned Paycom Software, Inc. (NYSE: PAYC) and discussed its stance on the firm. Paycom Software, Inc. is an Oklahoma City, Oklahoma-based online payroll and human resource technology provider with a $26.9 billion market capitalization. PAYC delivered a 0.01% return since the beginning of the year, while its 12-month returns are up by 11.08%. The stock closed at $452.30 per share on November 24, 2021.

Here is what U.S. SMID Company Growth Fund has to say about Paycom Software, Inc. in its Q3 2021 investor letter:

"In terms of contributors, Paycom reported that its growth accelerated 33% year over year, driven by increased advertising spend, upsells, and improving employment trends. We believe Paycom’s growth runway remains attractive with ongoing reinvestments, a growing total addressable market, and enhancements in its existing solutions."

Photo by Viacheslav Bublyk on Unsplash

Based on our calculations, Paycom Software, Inc. (NYSE: PAYC) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. PAYC was in 40 hedge fund portfolios at the end of the third quarter of 2021, compared to 39 funds in the previous quarter. Paycom Software, Inc. (NYSE: PAYC) delivered a -6.57% return in the past 3 months.

Disclosure: None. This article is originally published at Insider Monkey.