Paycom Software Inc

PAYC: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Updating Moat Ratings and Fair Value Estimates for Payroll Firms

Eric Compton

Mar 6, 2026

We conducted a comprehensive review of Morningstar Economic Moat Ratings across our global technology and technology-adjacent coverage universe of more than 130 companies. In doing so, we updated our moat ratings and fair value estimates for our payroll sector coverage.

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We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

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Read our editorial policy to learn more about our process.

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Paycom Software Inc

Updating Moat Ratings and Fair Value Estimates for Payroll Firms

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