Better Growth Stock: Paycom Software vs. Workday
Paycom Software (NYSE: PAYC) and (NASDAQ: WDAY) both digitize human capital management (HCM) services with cloud-based tools for managing payrolls, employees, expenses, and digital documents. Paycom started out as an online payroll services company and expanded its ecosystem with more HCM services. Workday started out as a cloud-based finance and human resources (HR) services provider before adding more HCM tools and student information services to its platform.
Paycom and Workday both saw their stocks close at record highs during the peak of the growth stock rally in November 2021. However, Paycom's stock subsequently plunged more than 60% while Workday suffered a milder decline of 8%. Let's see why Workday held up so much better than Paycom -- and if it will remain the better HCM investment for 2024.
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Source Fool.com
Workday, Inc. Stock
The stock is one of the favorites of our community with 43 Buy predictions and 2 Sell predictions.
As a result the target price of 265 € shows a slightly positive potential of 14.22% compared to the current price of 232.0 € for Workday, Inc..
