Is It Time to Buy the Dip on Paycom Stock?
Paycom Software (NYSE: PAYC) has been a perennial wealth creator. The cloud-based payroll-software provider has delivered a staggering 30% annualized return since its initial public offering (IPO) in 2014 (1,170% overall). That has absolutely pulverized the S&P 500's return (155% or 10.1% annualized).
However, Paycom stock has fallen on hard times this year. Shares have lost one-third of their value over the past year and plunged 45% from their 52-week high. That has been an abysmal performance compared to the S&P 500, which has rallied 24% this year. Here's a look at what has weighed on Paycom stock and whether now is a good time to buy the dip in the cloud stock.
Paycom has helped revolutionize the payroll sector. It was one of the first companies to bring the industry online. It has since launched Beti (better employee transaction interface), an industry-first solution that empowers employees to do their own payroll. Beti helps employees find and fix costly errors, saving companies time and money.
Source Fool.com
