Paycom Software, Inc.
In the published model solve dated 2026-Q2, anchored at $175.27, Paycom Software, Inc. (PAYC) is priced for +12.9% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 27, 2026 from SEC EDGAR filings.
• Paycom runs payroll and human-capital software at a 28% operating margin and a 58% return on equity, with about 95% of revenue recurring, the economics of an entrenched system of record rather than a discretionary tool. • The price is undemanding for that quality, paying roughly 11 times operating income and implying barely any growth, which is the opposite of the moat-premium problem most quality software carries. • The defining risk is self-inflicted: the same automation features that make c
Is PAYC overvalued? See what's priced in →
576 institutional managers reported holding PAYC in 13F filings for the quarter ended 2026-03-31. Together they hold about 88% of the company; the top 10 hold 47%. 99 opened new positions that quarter. Held by BlackRock, Vanguard Group, Harris Associates (Oakmark), among others. On the short side, 4.0M shares were sold short as of the 2026-06-15 count, about 8% of shares outstanding (4.7 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
PAYC has cut its share count 11.7% over the past five years, spending $1.93B on repurchases. It pays a dividend, and has for 3 years running; the current rate is $0.38 a share annually. Cash returned over the past three years: $230.41M in dividends and $1.83B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at PAYC over the trailing three years: 2023: 2 buys totaling $50k; 2024: 1 buy totaling $22k. 17 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
PAYC's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-04 | -18.8% | -6.9% |
| 2023-11-03 | -37.2% | +24.0% |
| 2024-02-16 | -1.0% | -4.0% |
| 2024-05-03 | -8.0% | -17.1% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
PAYC's latest 8-K filings: 2026-08-05 (items 2.02, 9.01); 2026-08-03 (items 8.01, 9.01); 2026-07-09 (items 5.02, 7.01, 9.01); 2026-05-07 (items 5.07); 2026-05-06 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
Each week boothcheck ranks the stocks whose prices are betting on the most. Read the most stretched bets archive →
boothcheck is also on Android. Get the app on Google Play →
For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.