Movement Alert|Paycom Rises 7.02% in Regular Trading, SaaS Sector Rallies on Morgan Stanley Upgrade of Software Outlook

Market Focus
07/29

On July 29, Paycom rose 7.02% in regular trading, trading at $162.17 USD/share, with turnover of $49.81 million. The stock surged alongside a broad rally in the U.S. SaaS sector following a Morgan Stanley research note arguing that the prior selloff in software stocks was excessive.

Morgan Stanley maintained a positive rating on the software sector, stating that pessimistic expectations had already been fully priced in. The report highlighted key AI-era software names including Microsoft, Palo Alto Networks, CrowdStrike, Cloudflare, Datadog, ServiceNow, Snowflake, and Shopify. The sector-wide momentum lifted multiple SaaS names, with Workday up nearly 8%, HubSpot up over 7%, and Salesforce and Adobe each up nearly 6%.

Within the Human Resource & Employment Services sector, the overall tone was positive. Among individual stocks, Automatic Data Processing rose 4.57%, Paychex rose 4.41%, Baiya International Group rose 20.97%, Robert Half rose 1.56%, and Kanzhun Limited rose 0.29%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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