What I'll Be Watching When Paycom Software Reports Earnings

Paycom Software's (NYSE: PAYC) shareholders have enjoyed a heck of a ride recently. The company's stock is up more than 50% year to date as demand for the company's cloud-based human capital management (HCM) software remains strong. And with shares currently trading at a price-to-earnings ratio of more than 80, to say expectations are running high is an understatement.

Can Paycom's growth train keep chugging along at the heady rates of the past several quarters? Here are a few of the items I'll be watching most closely when the company reports second-quarter earnings on Aug. 1.