08-31-2018: Paycom Software, Inc. (PAYC): Share Price Explosion in Competitive Industry

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Recommendation

Paycom Software, Inc.

Paycom Software, Inc. (PAYC) competes with large a host of internet software companies, which as a whole constitute one of the strongest recent inudstry group performers. The extraordinary gains made by the stock of this company suggests that it does enjoy the approval of its products from a host of clients. These products consist a host of instructional videos on the internet for personnel office functions including hiring top talent, vetting applicants, motivating employees, labor management, records management, pay and expense management, budgeting, health care benefits, etc. These "courses" are available to paying members.

This Oklahoma-based corporation depends heavily upon the talent in its own management and sales forces nationwide which achieved a degree of success in selling its products as indicated by rapidly growing earnings. The high p/e on the stock is not outpacing the average to current p/e ratios which are even higher. That suggests the stock price has room to run.

The compay website includes very many free samples of motivational videos to help describe what the company purports to do for clients in a mass of "blurb" that is often a part of consulting organization sales pitches.

This appears to be more of a buy and hold rather than a trading stock. The chart is almost straight up as are the earnings. However, in a late bull market with such a rise there is always a fear of vulnerabilitiy to a selloff. Our ultimate trading systems sense this coming. Researchers are negative on the stock, but analysts are positive and institutions are acquirers. Standard & Poors and Market Grader are both positive on the stock and it has a strong Zenith Index indicating "okay" fundamentals. We did note some GMI Analyst suspicion of accounting manipulation to affect the earnings pattern. Other researchers detected a significant declining cash flow problem.

The corporation is pouring money into opening new sales offices all over the U.S. at a prodigious rate and this consists of most of the news items on the stock.

Since its initial public offering, the stock of Paycom has exploded to ten times its original value in five years. This is a remarkable history which continues to this day, but the current p/e ratio is 100, requiring that the stock share price return to a more normal relationship to earnings or else that the earnings continue to explode with the openings of more and more offices and the acquisition of debt to support this. In that regard the company has managed to maintain a debt/equity ratio of only 10%, surprisingly low debt.

The assumption of the market seems to be that the demand for consulting on personnel issues by major corporations will continue to expand indefinitely, that internet software related to this issue will remain competitive, and our technical indicators are forced to admit to that possibility, however remote it may seem. 



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Zenith Index

Under current market conditions, a Zenith Index Score of 1.20 or above is required for a positive rating on this factor. 1.21 -1.30 is considered acceptable, 1.30-1.40 is considered strong and
> 1.40 is considered exceptionally strong. Accounting statements in this section often contain mistakes, especially in earlier years' totals, but data is deemed sufficient for us to give a rating. More accurate financial statements follow in the next section.

Paycom Software, Inc. (PAYC)                              Exchange: NYSE
7501 West Memorial Road
Oklahoma City, OK 73142          Sector: Technology
United States                    Industry: Software - Application

Paycom Software, Inc. provides cloud-based human capital management
(HCM) software service for small to mid-sized companies in the United
States. It provides functionality and data analytics that businesses
need to manage the employment life cycle from recruitment to retirement.
The company's HCM solution offers a suite of applications in the areas
of talent acquisition, including applicant tracking, candidate tracker,
background checks, on-boarding, e-verify, and tax credit services; and
time and labor management, such as time and attendance,
scheduling/schedule exchange, time-off requests, labor allocation, labor
management reports/push reporting, and geofencing/geotracking. Its HCM
solution also provides payroll applications comprising payroll and tax
management, Paycom pay, expense management, garnishment management, and
GL Concierge applications; and talent management applications that
include employee self-service, compensation budgeting, performance
management, executive dashboard, and Paycom learning and course content.
In addition, the company's HCM solution offers HR management
applications, which comprise document and task management, government
and compliance, benefits administration/benefits to carrier, COBRA
administration, personnel action forms, surveys, and affordable care act
applications. Paycom Software, Inc. was founded in 1998 and is
headquartered in Oklahoma City, Oklahoma.

Last Trade: 152.34                           52-Week Range: 154.32 -  71.78
Employees: 2,548                             Avg.Volume:     829,024 Shares

Corporate Governance:
Pillar scores are Audit: 2; Board: 8; Shareholder Rights: 8; Compensation: 6.
         (A lower number means less governance risk.)

EPS:  1.53    Dividend Amount: $ 0.00          Yield:  0.00%
             Ex-Dividend Date: N/A             Payout Ratio:   0.00

Key Statistics:

    Trailing P/E: 100.74              Forward P/E (est.):  48.25
                                           Target Price: 124.50

Qrtly Stock Price Growth (yoy): 104.18%               Beta:   0.51
Qrtly S&P Index   Growth (yoy):  31.10%        Short Ratio:   6.47%
    Qrtly Revenue Growth (yoy):  17.23%         Shares Out:  58630000
   Qrtly Earnings Growth (yoy):  78.50%

          Book Value:   5.72                    Debt/Equity:  10.69%
    Price/Book Value:  26.93        Operating Profit Margin:  20.36%
         Price/Sales:  18.12                  Profit Margin:  18.07%
         Market Cap:   9,024,000,000       Return on Equity:  37.90%
    Enterprise Value:   8,690,000,000      Return on Assets:   5.14%

    Operating Cash Flow:    175,660,000
         Free Cash Flow:     36,030,000



Annual Income Statement:                          (All numbers in thousands)
  Period Ending                             12/31/2017  12/31/2016  12/31/2015

  Total Revenue                                433,047     329,141     224,653
  Cost of Revenue                               62,438      48,268      31,790
  Gross Profit                                 370,609     280,873     192,863

Operating Expenses:
  Research & Development                        30,430      20,966       8,627
  Selling, General & Administrative            242,159     188,304     140,380
  Non-Recurring Expenses                             0           0           0
  Other Operating Expenses                           0           0           0
  Total Operating Expenses                     354,422     271,170     190,218

Operating Income or Loss                        78,625      57,971      34,435

Income from Continuing Operations:
  Total Other Income/Expenses Net               -1,978        -728        -910
  Earnings Before Interest & Taxes              78,625                 57,971  E
arnings Before Interest & Taxes              34,435
  Interest Expense                              -1,560      -1,036      -1,427
  Income Before Taxes                           76,647      57,243      33,525
  Income Tax Expense                             9,840      13,403      12,580
  Minority Interest                                  0           0           0

Net Income from Continuing Op.s                 66,807      43,840      20,945

Non-recurring Events:
  Discontinued Operations                            0           0           0
  Extraordinary Items                                0           0           0
  Effect of Accounting Changes                       0           0           0
  Other Items                                        0           0           0
  Net Income                                    66,807      43,840      20,945
  Preferred Stock & Other Adjustments                0           0           0

Net Income Avail to Common Shares               66,636      43,507      20,675



Annual Cash Flow Statement:                   (All numbers in thousands)
  Period Ending                         12/31/2017    12/31/2016    12/31/2015

  Net Income                                66,807        43,840        20,945

Operating Activities:
  Depreciation                              12,395        10,032         7,621
  Adjustments to Net Income                 38,048        20,559         2,213
  Changes in Accounts Recv'bls                -237         1,015           440
  Changes in Liabilities                    11,992         9,104         9,268
  Changes in Investories                       462           418          -224
  Changes in other Oper'g Acts                 371         4,210         6,560

Total Cash Flow f Operations               130,600        98,953        42,972

Investing Activities:
  Capital Exenditures                      -59,389       -43,805       -16,549
  Investments                                    0             0             0
  Other Cash Flows fr Investing           -230,957      -161,541             0

Total Cash Flows from Investing                  0             0             0

Financing Activities:
  Dividends Paid                                 0             0             0
  Sale of Purchase of Stock                      0             0             0
  Net Borrowings                             5,605         4,036        -1,118
  Other Cash Flows fr Financing            196,940       147,067             0

Total Cash Flows from Financing            145,665       115,542        34,922

  Effect of Exchange Rate Chg                    0             0             0

Change in Cash & Cash Equiv.               -14,081         9,444        25,570



Annual Balance Sheets:                              (All Numbers in Thousands)
  Period Ending                          12/31/2017    12/31/2016    12/31/2015
Current Assets:
  Cash & Cash Equivalents                    46,077        60,158        50,714
  Short Term Investments                          0             0             0
  Net Receivables                             8,623         2,031         9,097
  Inventory                                     979           675         1,093
  Other Current Assets                    1,089,201       858,244       696,703
  Total Current Assets                    1,144,880       921,108       757,607

  Long-Term Investments                           0             0             0
  Property, Plant & Equipt                  147,705        96,848        58,858
  Goodwill                                   51,889        51,889        51,889
  Intangible Assets                             958         1,871         3,484
  Accumulated Amortization                        0             0             0
  Other Assets                                4,750         2,422         1,286
  Deferred LT Asset Charges                   3,294         1,207             0

Total Assets                              1,355,164     1,078,613       876,655

Current Liabilities:
  Accounts Payable                            6,490         3,737         4,899
  Current Portion LT Debt                    35,856        29,824        25,742
  Other Current Liabilities               1,096,183       863,474       700,429
  Total Current Liabilities               1,138,529       897,035        731,070

  Long Term Debt                              6,490         3,737         4,899
  Other Liabilities                          35,856        29,824        25,742
  Deferred LT Liab. Charges               1,096,183       863,474       700,429
  Minority Interest                               0             0             0
  Negative Goodwill                               0             0             0

Total Liabilities                         1,218,139       960,227       781,877

Stockholder Equity:
  Misc. Options, Warrants                         0             0             0
  Redeemable Preferred Stock                      0             0             0
  Preferred Stock                                 0             0             0
  Common Stock                                  601           585           571
  Retained Earnings                         137,255        70,448        26,608
  Treasury Stock                           -139,688       -49,958             0
  Capital Surplus                           137,234        95,452        71,135
  Other Stockhohlder Equity                       0             0             0
  Total Stockholder Equity                  135,402       116,527        98,314

Net Tangible Assets                          82,555        62,767        42,941


Paycom Software, Inc. (PAYC)                [Indices near +3.0, near zero,
                                            or < zero bear special attention.]
P/E Ratio Tests:
P/E Ratio < 28?            0.2779          P/E Ratio > 5?             1.0000
P/E Ratio Vs Growth Rate:  3.0000          Forward P/E Ratio < 28?    0.5803
Price/Sales Ratio < 2.3?   0.1269          Inventory/Sales < 5%?      3.0000
Sales < $1 Billion?        2.3092          Operating Margin < 7.5%?   0.3684

Balance Sheet Tests:
Debt/Equity < 0.40?        3.0000          Long-Term Debt Service:    3.0000
LTD Being Reduced?        -3.0000          Short-Term Debt Service:  -3.0000
Current Ratio > 2?         0.5028          Working Capital >= 1.5?    1.5116
Leverage Ratio < 20%?      3.0000          Debt/Assets < 1?           3.0000
Quick Ratio > 1?           3.0000          Inventory Turnover > 1?    0.0028
Share Equity Increase:     2.3472          Market Cap.< 1.5 Billion?  0.1662
                                           Intangibles < 3% Assets?   0.7693
Income Tests:
Profit Margin < 7.5%?      2.4093          EPS Annual Growth > 10%?   0.0653
Dividend Yield > 2.0%?     0.0000          EPS 3-yr Growth > 15?      0.0465
Enterprise Value/Revenue   3.0000          EPS Growth Consistent?     2.0000
Enterprise Value/EBITDA:   3.0000          Collection < 45 days?      3.0000
EPS Qrtly Growth > 10%?    0.0013          Gross Pft/Cur. LTD > 1?    3.0000
                                           Borrowing Int. Rate < 6%? -1.3449
Stock Performance Tests:
Volatility > 25%?          2.1395          % Held by Insiders < 5%?   0.2874
Beta > 1.25?               0.4080          % Held by Institut. < 50?  0.6399
50 Da MA > 200 Da MA?      0.2905          % Held by Institut. > 30?  2.6047
52-Wk Change vs. S&P 500:  3.0000          Short Ratio > 5?           1.2940
Price/Book Value < 3?      0.1126          Short % of Float > 20?     0.6740
Return on Assets > 17%?    0.3024          Average Volume > 100,000?  3.0000

Cash Flow Tests:
Oper. C.F. > Lever'd C.F:  3.0000          Positive Free Cash Flow?   3.0000
Positive Oper. Cash Flow?  3.0000          Price to C.F.Ratio < 14?:  0.4286
                                           Cash Flow / Assets > 10%?  2.0386

PAYC   Paycom Software, Inc.               Overall Zenith Index:      1.3544


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Financial Statements

PAYCOM SOFTWARE INC  (PAYC)                 INCOME STATEMENT

Fiscal year ends in December.                        2013-12         2014-12         2015-12         2016-12         2017-12             TTM           

Revenue                                          107,601,000     150,928,992     224,652,992     329,140,992     433,047,008     498,028,000
Cost of revenue                                   20,891,000      27,318,000      35,473,000      54,066,000      72,028,000      81,542,000
Gross profit                                      86,710,000     123,611,000     189,180,000     275,075,008     361,019,008     416,486,016


Operating expenses
Research and development                           2,146,000       4,325,000       8,627,000      20,966,000      30,430,000      37,519,000
Sales, General and administrative                 71,565,000      99,048,000     140,380,000     188,304,000     242,159,008     265,956,992
Other operating expenses                           3,682,000       4,538,000       5,738,000       7,834,000       9,805,000      11,630,000
Total operating expenses                          77,393,000     107,911,000     154,744,992     217,104,000     282,393,984     315,105,984

Operating income                                   9,317,000      15,700,000      34,435,000      57,971,000      78,625,000     101,380,000
Interest Expense                                   2,805,000       3,421,000       1,427,000       1,036,000         911,000         407,000
Other income (expense)                             1,199,000      -2,623,000         517,000         308,000      -1,067,000         234,000
Income before taxes                                7,711,000       9,656,000      33,525,000      57,243,000      76,647,000     101,207,000
Provision for income taxes                                 0       3,993,000      12,580,000      13,403,000       9,840,000      11,228,000
Net income from continuing operations              7,711,000       5,663,000      20,945,000      43,840,000      66,807,000      89,979,000
Net income                                         7,711,000       5,663,000      20,945,000      43,840,000      66,807,000      89,979,000
Preferred dividend                                 6,467,000               0         270,000         333,000         171,000         163,000
Net income available to common shareholders        1,244,000       5,663,000      20,675,000      43,507,000      66,636,000      89,816,000

Earnings per share
Basic                                                   0.02            0.11            0.37            0.76            1.15            1.55 
Diluted                                                 0.02            0.11            0.36            0.74            1.13            1.53 

Weighted average shares outstanding
Basic                                             47,686,328      49,784,152      56,495,168      57,550,204      57,839,156      57,935,248
Diluted                                           48,371,488      51,857,308      57,919,700      58,968,100      58,790,020      58,764,880

____________________________________________________________________________________________________________________________________________


PAYCOM SOFTWARE INC  (PAYC)                 BALANCE SHEET

Fiscal year ends in December.                        2013-12         2014-12         2015-12         2016-12         2017-12             

Assets

Current assets

Cash

Short-term investments                                     0               0     696,702,976     858,243,968   1,089,201,024
Total cash                                        13,273,000      25,144,000     747,417,024     918,401,984   1,135,277,952

Receivables                                        1,705,000       2,794,000       2,354,000       1,339,000       1,576,000
Inventories                                          578,000         195,000       1,093,000         675,000         979,000
Deferred income taxes                                423,000       1,445,000               0               0               0
Prepaid expenses                                   2,133,000       1,952,000       3,531,000       4,475,000       4,982,000
Other current assets                             456,148,000     661,862,976       6,743,000         692,000       7,047,000
Total current assets                             474,260,000     693,393,024     761,137,984     925,582,976   1,149,862,016

Non-current assets

Property, plant and equipment
Gross property, plant and equipment               50,211,000      65,008,000      83,752,000     132,681,000     201,230,000
Accumulated Depreciation                         -11,540,000     -17,089,000     -24,894,000     -35,833,000     -53,525,000
Net property, plant and equipment                 38,671,000      47,919,000      58,858,000      96,848,000     147,704,992

Goodwill                                          51,889,000      51,889,000      51,889,000      51,889,000      51,889,000
Intangible assets                                  6,709,000       5,096,000       3,484,000       1,871,000         958,000
Deferred income taxes                                      0               0               0       1,207,000       3,294,000
Other long-term assets                               461,000         645,000       1,404,000       1,215,000       1,456,000
Total non-current assets                          97,730,000     105,549,000     115,635,000     153,030,000     205,302,000

Total assets                                     571,990,016     798,942,016     876,772,992   1,078,612,992   1,355,164,032 

Liabilities and stockholders' equity

Liabilities

Current liabilities
Short-term debt                                    9,545,000         855,000         886,000       1,113,000         888,000
Accounts payable                                   5,020,000       3,042,000       4,899,000       3,737,000       6,490,000
Accrued liabilities                                4,372,000       5,121,000      12,633,000      22,567,000      27,006,000
Deferred revenues                                  1,582,000       2,535,000       3,726,000       5,230,000       6,982,000
Other current liabilities                        462,464,000     667,219,008     705,390,016     866,246,976   1,098,786,048
Total current liabilities                        482,983,008     678,771,968     727,534,016     898,894,016   1,140,152,064

Non-current liabilities
Long-term debt                                    72,420,000      26,123,000      24,974,000      28,711,000      34,414,000
Deferred taxes liabilities                         2,738,000       3,107,000         641,000               0               0
Deferred revenues                                 10,990,000      16,802,000      25,310,000      34,481,000      44,642,000
Other long-term liabilities                        1,107,000               0               0               0         554,000
Total non-current liabilities                     87,255,000      46,032,000      50,925,000      63,192,000      79,610,000

Total liabilities                                570,238,016     724,803,968     778,459,008     962,086,016   1,219,762,048 

Stockholders' equity

Common stock                                      17,452,000         538,000         571,000         585,000         601,000
Additional paid-in capital                       -13,385,000      67,937,000      71,135,000      95,452,000     137,234,000
Retained earnings                                 -2,315,000       5,663,000      26,608,000      70,448,000     137,255,008
Treasury stock                                             0               0               0     -49,958,000    -139,688,000
Total stockholders' equity                         1,752,000      74,138,000      98,314,000     116,527,000     135,402,000
Total liabilities and stockholders' equity       571,990,016     798,942,016     876,772,992   1,078,612,992   1,355,164,032

____________________________________________________________________________________________________________________________________________


PAYCOM SOFTWARE INC  (PAYC)                 Statement of CASH FLOW

Fiscal year ends in December. USD.                   2013-12         2014-12         2015-12         2016-12         2017-12             TTM           

Cash Flows From Operating Activities
Net income                                         7,711,000       5,663,000      20,945,000      43,840,000      66,807,000      89,979,000
Depreciation & amortization                        5,486,000       7,162,000       9,421,000      13,632,000      19,395,000      23,184,000
Amortization of debt discount/premium and is         258,000         133,000               0               0               0               0
Investment/asset impairment charges                        0       4,051,000               0               0               0               0
Investments losses (gains)                                 0               0               0               0         649,000               0
Deferred income taxes                                      0               0      -1,021,000      -1,848,000      -2,087,000       5,234,000
Stock based compensation                                   0         712,000       3,219,000      22,471,000      38,542,000      49,157,000
Change in working capital                         10,240,000       5,723,000      10,236,000      20,798,000       6,233,000       7,585,000
Accounts receivable                               -1,083,000      -1,089,000         440,000       1,015,000        -237,000        -611,000
Inventory                                            136,000         267,000        -224,000         418,000         462,000          85,000
Prepaid expenses                                    -800,000        -465,000      -2,389,000        -873,000        -748,000      -2,571,000
Accounts payable                                   2,667,000      -2,386,000        -431,000      -1,571,000          79,000         991,000
Accrued liabilities                                5,201,000         726,000       5,342,000       5,767,000        -463,000       5,513,000
Other working capital                              4,119,000       8,670,000       7,498,000      16,042,000       7,140,000       4,178,000
Other non-cash items                                  26,000      -1,107,000         172,000          60,000       1,061,000         525,000

Net cash provided by operating activities,23721000,22337000,42972000,98953000,130600000,175664000

"Investments in property, plant, and equipment",-17176000,-14270000,-16549000,-43805000,-59389000,-69353000
Property, plant, and equipment reductions            248,000               0               0         295,000               0               0
Other investing activities                      -131,514,000    -204,780,000     -35,775,000    -161,540,992    -230,956,992    -113,272,000
Net cash used for investing activities          -148,442,000    -219,050,000     -52,324,000    -205,051,008    -290,345,984    -182,624,992

Cash Flows From Financing Activities
Debt issued                                        6,979,000       6,538,000               0       5,000,000      40,940,000               0
Debt repayment                                             0     -65,650,000      -1,118,000        -964,000     -35,335,000               0
Common stock issued                                        0      62,840,000               0               0               0               0
Common stock repurchased                                   0               0               0     -35,561,000     -56,880,000     -83,382,000
Other financing activities                       117,580,000     204,767,008      36,040,000     147,067,008     196,940,000      76,856,000
Net cash provided by (used for) financing        124,559,000     208,495,008      34,922,000     115,542,000     145,664,992      -6,526,000

Net change in cash                                  -162,000      11,782,000      25,570,000       9,444,000     -14,081,000     -13,487,000
Cash at beginning of period                       13,435,000      13,362,000      25,144,000      50,714,000      60,158,000      68,117,000
Cash at end of period                             13,273,000      25,144,000      50,714,000      60,158,000      46,077,000      54,630,000

Free Cash Flow
Operating cash flow                               23,721,000      22,337,000      42,972,000      98,953,000     130,600,000     175,664,000
Capital expenditure                              -17,176,000     -14,270,000     -16,549,000     -43,805,000     -59,389,000     -69,353,000
Free cash flow                                     6,545,000       8,067,000      26,423,000      55,148,000      71,211,000     106,311,000
____________________________________________________________________________________________________________________________________________





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Average to Current P/E Ratios
              (PAYC)     Paycom Software Inc.

                               2013    2014    2015    2016    2017

          Annual Earnings:     0.02    0.11    0.36    0.74    1.13
Average Price During Year:    20.59   31.10   38.74   53.83   87.60

                P/E Ratio:   1029.46  282.68  107.61   72.75   77.52

 Average 5-Year P/E Ratio  = 314.00
             Current Price =  155.12

Previous 5 Quarter Earnings:   0.24    0.24    0.22    0.70    0.61

           Current Annualized (Last Four Quarters) Earnings =   1.53
                                                           ________
                                 Average PE / Current PE =     3.10
                                                           --------

                                      ...a number above 1.00 is good
                                                1.00 or below is bad


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Financial Ratios

. . . . . . . . . . . . Lowest to Highest, Compared to Industry



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Market Grader

900
901 902 903 904 905 906 907 908 909 910



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Intrinsic Value (DCF)

Intrinsic Value by Discounted Cash Flow Method:

Intrinsic Value



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Fair Value Estimator

Fair Value Estimate:

Fair ValueFair Value



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Projected Earnings

Earnings Estimates
Earnings Estimates



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Research Reports

Click Here for Research Reports



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Analysts' Opinions

Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 2



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Insider Activity

Insiders Chart Insider Trades
Insider Trades
Executive Compensation Executive Compensation



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Institutional Activity

Institutional Orders to Buy or Sell:

institutions 1
Ownership:

institutions 2


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Sentiment

sentiment

Zenith uses the "sentiment" score above or below 50 to award a positive or negative point in the Decision Matrix.

sentiment sentiment sentiment



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Short Interest Ratio

As the short interest rises as a percentage of average daily share volume (Days to Cover), this is considered a measure of negative sentiment. Similarly, a decrease in that percentage is considered positive sentiment.

short interest short interest


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Standard & Poor's

S&P Stock Report (Requires Adobe Acrobat Reader)



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Management's Discussion of Results of Operations Excerpts

Click Here for Management's Discussion Excerpts



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Channeling Potential

 
The summary below includes a value for `Degree,' which refers on a
scale of 1 to 10 the range of a channel in the period under consi-
deration compared to the total range of price movement. It also looks
for the last closing price to be within the channel, otherwise zeroed.
The `Index' is the `Degree' weighted for volatility.  Generally, the
the higher the index, the more suitable is the stock for trading as
a `rolling stock' between channel high and low points.

Results for PAYCOM SOFTWARE INC.:
Symbol? PAYC
Total Months Available:  53
       Months in Cycle?   4

Months Covered by Periods:  12

Period 1           Period 2          Period 3
   H1      L1        H2      L2        H3      L3
  86.10   71.78    118.45   79.18    154.32   96.44

RANGE   = 154.32  TO   71.78            Close = 152.79
CHANNEL =  96.44  TO   86.10           Degree =   1
Volatility =   6.77%                    Index =   0
Channel Chart



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MACD Histogram Divergence

The theory is that connecting the two most recent peaks or valleys of the MACD histogram will signal the direction of the next major move.



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Intraday Chart

2 Days:



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Val Idea

6 out of 8 favorable, (positive opinion.)

Val Idea


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Stock Consultant

Stock Consultant Stock Consultant


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Point & Figure Chart

P & F Chart


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Wall Street Analyzer






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Marketspace Chart

Marketspace Chart



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Time Series Forecast

Time Series 1 Time Series 2


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Neural Network Prediction

"Neurostock" can only track long trades. Therefore its performance, as tracked by itself on stocks which are consistently falling, may not appear as good as it could if each "sell" signal were a "short sale."

Neural Chart
Heading
Neural Trades Neural Prediction



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Ultimate Trading Systems

2 out of 3 of the ultimate systems favor a downmove.


System Below:
Short term outlook: Positive: Bright Green, Negative: Bright Red
Long term outlook: Postive: Dark Green, Negative: Dark Red.




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Recommendation

Decision Weighting Factors
FactorsWeighted Points
News + 1
Comparison - 1
Industry + 1
Bond Issue 0
Zenith Index + 1
Non-GAAP vs. GAAP Earnings - 1
Cash Flow - 1
Average to Current P/E + 1
Ratios - 1
Market Grader + 1
Intrinsic Value DCF 0
Fair Value Estimator - 1
Projected Earnings + 1
Research Reports - 1
Analysts + 1
Executive Perquisites - 1
Insider Activity - 1
Institutional Activity + 1
Management Reporting + 1
Short Interest + 1
Sentiment + 1
Standard & Poor's + 1
MACD Histogram Divergence + 1
Val Idea + 1
Stock Consultant - 1
Point & Figure + 1
Wall Street Analyzer - 1
Marketspace Chart + 1
Time Series Chart - 1
Neural Network - 1
Stock Options + 1
Ultimate Trading Systems - 1
Total + 4
Place 190 shares of Paycom Software, Inc. (PAYC) on the Active List.