I've had my eyes on payroll and HR software provider Paycom (PAYC -1.36%) for a while. There's a lot to like about the company, and recent short-term issues have sent the stock tumbling from highs carved out during the pandemic.The price still looks a bit too high, though, so I'll be staying on the sidelines for now. I would love to add the stock to my portfolio this year, but only if the valuation makes sense.An efficient, customer-focused software companyRunning payroll and handling HR processes are thing ...