Paycom Software (PAYC) Surge Driven by Accelerating Growth and Margin Expansion

What happened: Oakmark Select Fund's Q3 2026 investor letter highlighted Paycom Software (NYSE:PAYC) as a leading contributor, citing accelerating revenue growth, margin expansion, and stronger than expected profitability. Key numbers: Fund returned 11.50% versus S&P 500's 2.30%. Why it matters: The letter attributes the share rise to cost-reduction benefits, share repurchases, and management's view that higher profitability can be sustained, supporting a higher assessment of long-term earnings power. Market: -0.6% today ($733.12), +12.9% YTD, 0.3x vol — as of 15:18 UTC

Oakmark Select Fund's Q3 2026 investor letter highlighted Paycom Software (NYSE:PAYC) as a leading contributor, citing accelerating revenue growth, margin expansion, and stronger than expected profitability.

The letter attributes the share rise to cost-reduction benefits, share repurchases, and management's view that higher profitability can be sustained, supporting a higher assessment of long-term earnings power. Market: -0.6% today ($733.12), +12.9% YTD, 0.3x vol — as of 15:18 UTC