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RALEIGH, N.C. - Paycom Software, Inc. (NYSE: PAYC), a $12.27 billion market cap provider of comprehensive HR and payroll technology with impressive 85.8% gross profit margins, has been formally accredited by the Background Screening Credentialing Council (BSCC) as compliant with the Background Screening Organization Accreditation Program (BSOAP). This accreditation signifies the company’s adherence to the stringent standards set for U.S. employment screening.
The BSOAP, governed by the Professional Background Screening Association (PBSA), is designed to recognize organizations that meet or exceed a measurable standard of competence in six critical areas, including Information Security and Legal and Compliance. The accreditation process involves a thorough desk audit and a rigorous virtual audit by a third-party auditor to ensure that the organization’s policies and procedures align with the industry’s high standards.
Matt Paque, chief legal officer at Paycom, emphasized the significance of this achievement, stating that it confirms the company’s commitment to maintaining the industry’s most stringent standards. The company, which has demonstrated strong financial performance with 11.19% revenue growth over the last twelve months according to InvestingPro, offers a platform that allows clients to screen candidates or current employees without the need for separate systems, streamlining the background check process.
The PBSA, founded in 2003, is a not-for-profit trade association that represents over 900 member companies globally, offering tenant, employment, and background screening services. The association aims to empower its members to serve clients effectively and advocate for the development of national, state, and local regulations.
Paycom’s recognition by the BSCC as a BSCC-Accredited organization to the US Employment Screening Standard is a testament to its dedication to excellence and high professional standards in the background screening industry. This news is based on a press release statement. According to InvestingPro’s analysis, the company maintains a "GREAT" financial health score, with additional insights available in the comprehensive Pro Research Report, which provides deep-dive analysis of this and 1,400+ other US stocks.
In other recent news, Paycom Software has been the subject of multiple analyst updates and strategic developments. KeyBanc Capital Markets upgraded Paycom’s stock rating to Overweight, setting a new price target of $245.00. This optimistic view stems from a meeting with Paycom’s new CFO, Bob Foster, where growth prospects and EBITDA margin improvements were discussed. On a similar note, Piper Sandler increased its price target for Paycom to $224 following strong fourth-quarter results, although they maintained a Neutral rating due to concerns about revenue growth projections.
TD Cowen also revised its price target for Paycom to $242, maintaining a Hold rating while noting improved revenue growth excluding float. This adjustment reflects expectations for Paycom’s upcoming first-quarter earnings report. Meanwhile, Needham reiterated its Hold rating after Paycom’s robust Q4 earnings, highlighting the company’s solid sales execution and potential for improved client retention.
KeyBanc, while maintaining a Sector Weight rating post-earnings, acknowledged Paycom’s revenue surplus and new sales office openings as positive steps. These developments, along with the appointment of Bob Foster as CFO, suggest potential revenue acceleration throughout 2025. Despite these positive indicators, analysts remain cautious, emphasizing the need for consistent results before any further rating adjustments are considered.
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