$PAYC (-0.5%) The provider of cloud-based HCM systems has started a 52-week high today.

After a difficult year in terms of share price, the direction is right again 🤩

A slump occurred on Halloween 2023, which could not be corrected in the following months. Exactly one year later, on Halloween 2024, the quarterly figures and the further outlook were again received more favorably by the market.

Since then, the share price has stabilized and it looks as if it will continue to head north 📈

The 200GLD was broken upwards by the 50GLD in November. In the meantime, the 100GLD is also lining up with the upward-turning 200GLD 🚀

The 52-week high underlines the company's strong market performance and reflects investor confidence and the successful implementation of its business strategies.

In other recent news, Paycom Software reported impressive year-over-year revenue growth of 11%, reaching $452 million in the third quarter. BMO Capital Markets and Piper Sandler raised their price targets for Paycom.

CEO Chad Richison emphasized that September was the strongest revenue month in Paycom's history, mainly due to the acquisition of new key accounts. For the fourth quarter, Paycom remains cautious, pointing to unpredictable bonus payments and interest rate fluctuations as potential challenges. These recent developments reflect Paycom's strategic focus on automation solutions and the continued momentum in the market.

My follow-on purchases in May and June 2024 have proven to be good follow-on purchases in hindsight (you only know afterwards😅). As I was convinced by Paycom, I deliberately improved my buy-in.

This allowed me to turn the position from a significant loss position into a +40% return position.

A few days ago I reduced the position by about 1/4 (from 43 to 33 shares). With this size, the position can now remain in the portfolio.

Who has the $PAYC (-0.5%) or the big competitors such as $WDAY (+1.08%) in the portfolio or on the watchlist?

Source: Paycom IR and Investing.com