Barron's - Paycom, Ultimate Taking Business from Paychex, ADP, Says Credit Suisse
Younger cloud companies Paycom and Ultimate Software are stealing the payroll processing business of ADP and Paychex, the more established “service bureaus,” concludes Credit Suisse software analyst Michael Nemeroff. Shares of Paycom (PAYC), and Ultimate Software (ULTI) are both lower today despite a thumbs up from Credit Suisse software analyst Michael Nemeroff, who reiterates his Buy ratings on both, after reviewing trends […]