Index Rebalance and Special Situations Coverage, Quiddity Advisors

Anjana Amarasuriya

Index Rebalance and Special Situations Coverage

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The ADDs/DELs for SP500, SP MidCap400, and SP SmallCap600 indices for the March 2026 index rebal event were announced after market close on Friday 6 March 2026. </li>
<li>There are 4 ADD/DELs for the SP 500, all of which will also be added to and deleted from the SP 500 Equal Weight and their corresponding Select Sector indices.</li>
<li>In this insight, we take a look at our final flow expectations for each of these confirmed index changes. We see $26bn of flows, one-way.</li>
</ul>


The ADDs/DELs for SP500, SP MidCap400, and SP SmallCap600 indices for the March 2026 index rebal event were announced after market close on Friday 6 March 2026. 
There are 4 ADD/DELs for the SP 500, all of which will also be added to and deleted from the SP 500 Equal Weight and their corresponding Select Sector indices.
In this insight, we take a look at our final flow expectations for each of these confirmed index changes. We see $26bn of flows, one-way.


Quiddity SP 500 Mar26 Results: Over US$26bn Total One-Way Flows

<ul>
<li>The SP 500 index tracks the 500 largest US-listed names and is one of the most highly-tracked indices in the world.</li>
<li>The rankings used for the March 2026 index rebal event will be based on yesterday's (4th March 2026) opening prices. The announcement will be made after the close on Friday.</li>
<li>In this insight, we take a look at our final expectations for ADDs/DELs (along with a tracker of all live spinoff/M&amp;A events which affect the index the next few quarters).</li>
</ul>


The SP 500 index tracks the 500 largest US-listed names and is one of the most highly-tracked indices in the world.
The rankings used for the March 2026 index rebal event will be based on yesterday's (4th March 2026) opening prices. The announcement will be made after the close on Friday.
In this insight, we take a look at our final expectations for ADDs/DELs (along with a tracker of all live spinoff/M&amp;A events which affect the index the next few quarters).


Quiddity Leaderboard SP500/600 Mar26 Rebal: Final Expectations

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Paycom Software, Inc.'s recent results for the fourth quarter and the full year of 2025 reflect a complex landscape of solid performance intertwined with strategic challenges and opportunities looking forward.</li><li>The company reported robust revenue growth, with fourth-quarter total revenue reaching $544.3 million, a year-over-year increase of 10.2%.</li><li>For the full year, revenue was $2.05 billion, exceeding their initial outlook, driven primarily by a 10% growth in recurring and other revenues.</li></ul>

Paycom Software, Inc.'s recent results for the fourth quarter and the full year of 2025 reflect a complex landscape of solid performance intertwined with strategic challenges and opportunities looking forward.The company reported robust revenue growth, with fourth-quarter total revenue reaching $544.3 million, a year-over-year increase of 10.2%.For the full year, revenue was $2.05 billion, exceeding their initial outlook, driven primarily by a 10% growth in recurring and other revenues.

Paycom’s Full Automation Ambition—Can Zero-Touch HR Software Redefine Workforce Management?

<ul><li>Paycom's latest financial results demonstrate significant achievements, as well as some challenges in their current operational framework.</li><li>The company reported strong third quarter performance with total revenues amounting to $493 million, representing a year-over-year growth of 9.1%.</li><li>Recurring and other revenues increased by 10.6% to $467 million, indicating healthy demand for Paycom's core services and products.</li></ul>

Paycom's latest financial results demonstrate significant achievements, as well as some challenges in their current operational framework.The company reported strong third quarter performance with total revenues amounting to $493 million, representing a year-over-year growth of 9.1%.Recurring and other revenues increased by 10.6% to $467 million, indicating healthy demand for Paycom's core services and products.

Paycom Software: An Insight Into Its AI Capabilities & The IWant Platform!

<ul><li>Paycom Software, Inc.'s second-quarter results for 2025 indicated strong financial performance and growth potential, accompanied by the launch of a significant product innovation, IWant.</li><li>The company's total revenue for the quarter reached $484 million, marking an 11% year-over-year increase, with recurring and other revenue specifically rising 12% to $455 million.</li><li>Despite a decline in interest on funds held for clients, Paycom reported a GAAP net income of $89 million, or $1.58 per diluted share.</li></ul>

Paycom Software, Inc.'s second-quarter results for 2025 indicated strong financial performance and growth potential, accompanied by the launch of a significant product innovation, IWant.The company's total revenue for the quarter reached $484 million, marking an 11% year-over-year increase, with recurring and other revenue specifically rising 12% to $455 million.Despite a decline in interest on funds held for clients, Paycom reported a GAAP net income of $89 million, or $1.58 per diluted share.

Paycom Software: Expanding AI Capabilities But Then So Is Everyone; So What Will Shape Their Future?

United States

Paycom Software Inc provides cloud-based HCM software solution delivered as Software-as-a-Service.  The Company provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement.

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Paycom Software (PAYC US)

Quiddity SP 500 Mar26 Results: Over US$26bn Total One-Way Flows

The SP500/400/600 review results for March 2026 were announced Friday. We got 2 of the four SP500 ADDs correct (our model defaults to two changes)...

Anjana Amarasuriya

Quiddity Leaderboard SP500/600 Mar26 Rebal: Final Expectations

Final expectations are presented for the S&P500 March 2026 rebalance, with SP 600 DELETEs also presented, which we think represent good trade ideas...

Anjana Amarasuriya

Paycom’s Full Automation Ambition—Can Zero-Touch HR Software Redefine Workforce Management?

Paycom Software, Inc.'s recent results for the fourth quarter and the full year of 2025 reflect a complex landscape of solid performance...

Baptista Research

Paycom Software: An Insight Into Its AI Capabilities & The IWant Platform!

Paycom's latest financial results demonstrate significant achievements, as well as some challenges in their current operational framework. The...

Baptista Research

Paycom Software: Expanding AI Capabilities But Then So Is Everyone; So What Will Shape Their Future?

Paycom Software, Inc.'s second-quarter results for 2025 indicated strong financial performance and growth potential, accompanied by the launch of...

Baptista Research

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