Nice break out to new all time highs on a day the market was rather weak. Maybe PAYC – Paycom Software is seen as a potential buyout candidate now that SAP bought out CNQR – Concur Technologies. Maybe other enterprise software companies like ORCL – Oracle might be looking to acquire as well. It really doesn’t matter. PAYC looks great, that much I know and I don’t need to know much more. Just follow price. Reasons arrive afterwards as Charles Faulkner correctly points out.
Click on chart to enlarge:
Always up-to-date PAYC -Paycom Software chart on my public list.
PAYC – Paycom Software company description from Yahoo finance:
Paycom Software, Inc. provides a cloud-based human capital management (HCM) software solution delivered as software-as-a-service in the United States. The company offers functionality and data analytics that enable businesses to manage the employment life cycle from recruitment to retirement. Its HCM solution offers a suite of applications in the areas of talent acquisition, which includes applicant tracking, employment background checks, on-boarding/off-boarding, E-Verify, and tax credit services applications; time and labor management that comprises time and attendance, scheduling, time-off requests, labor allocation, and labor management report applications; and payroll, which consists of payroll and tax management, Paycom Pay, expense management, and garnishment management applications. The companys HCM solution also provides talent management applications, such as employee self-service, compensation budgeting, performance management, and executive dashboard applications; and HR management applications, including document management, government and compliance, benefits administration, COBRA administration, and personnel action forms applications. It primarily serves small to mid-sized companies. Paycom Software, Inc. was founded in 1998 and is headquartered in Oklahoma City, Oklahoma.
Technical analysis relies upon the idea that smart money will move into a market and give advance warning that a position should be taken. This often occurs when the true major fundamentals are unknown. – Jerry Parker
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