Paycom Software, Inc.’s stock price dips to $145.32, marking a 8.57% drop: A Detailed Analysis

Paycom Software, Inc. (PAYC)

145.32 USD -13.63 (-8.57%) Volume: 2.55M

Paycom Software, Inc.’s stock price stands at 145.32 USD, experiencing a drop of 8.57% this trading session with a trading volume of 2.55M, reflecting a significant YTD percentage change of -29.70%, drawing investor attention to PAYC’s volatile market performance.

Latest developments on Paycom Software, Inc.

Paycom Software stock price experienced fluctuations today following the resignation of Co-CEO Christopher G. Thomas. This leadership change comes as the company announces promotions for key executives, including Randy Peck as COO, Jennifer Kraszewski as CHRO, and Matt Paque as CLO. The reshuffling of leadership positions has sparked interest in Paycom’s market dynamics, with Quest Partners LLC buying 272 shares while Commerce Bank and PNC Financial Services Group Inc. have made adjustments to their positions in the company. Despite the dips in stock price, Paycom Software Inc. continues to outperform competitors, with Dimensional Fund Advisors LP purchasing 13147 shares amidst the changes in the C-suite.

Paycom Software, Inc. on Smartkarma

Analysts on Smartkarma, like Baptista Research, are covering Paycom Software Inc., a provider of cloud-based human capital management software. According to their research reports, Paycom Software‘s international expansion and globalisation efforts seem to be paying off, with Q1 revenue reaching $500 million, up by 11% from the previous year. The company reported a GAAP net income of around $247 million, or $4.37 per diluted share based on approximately 57 million shares.

Furthermore, Baptista Research highlights that Paycom Software‘s revenue growth in 2023 was driven by new business wins, although there was slightly lower cross-selling to existing clients. The company’s revenue for the year was $1.694 billion, marking a growth of 23% compared to 2022. Despite falling short of Wall Street revenue expectations in their recent results, Paycom Software delivered flawless payrolls, minimizing errors, and reducing billable items such as corrections and unscheduled payrolls.

A look at Paycom Software, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Paycom Software Inc, a provider of cloud-based HCM software solutions, has received a positive overall outlook based on Smartkarma Smart Scores. With high scores in Growth and Momentum, the company is positioned for long-term success in the industry. While Value, Dividend, and Resilience scores are not as high, the strong performance in Growth and Momentum factors bodes well for Paycom Software‘s future prospects.

Paycom Software Inc’s cloud-based HCM software solutions have earned favorable ratings in key areas, indicating a promising long-term outlook. The company’s focus on providing functionality and data analytics for managing the complete employment life cycle positions it as a valuable player in the market. With solid scores in Growth and Momentum, Paycom Software is poised for continued success and growth in the industry.

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