Paycom Software, Inc.’s stock price soars to $156.11, enjoying a robust 5.17% increase

Paycom Software, Inc. (PAYC)

156.11 USD +7.68 (+5.17%) Volume: 1.09M

Paycom Software, Inc.’s stock price is currently at 156.11 USD, witnessing a bullish trend with a +5.17% increase this trading session. Despite a year-to-date percentage change of -24.48%, the trading volume stands robust at 1.09M, indicating potential investor interest in PAYC shares.

Latest developments on Paycom Software, Inc.

Leading up to today’s movements in Paycom Software‘s stock price, there have been several notable events. Quantbot Technologies LP recently decreased its holdings in Paycom Software, Inc., while Mutual of America Capital Management LLC sold off 262 shares. On the other hand, Private Advisor Group LLC acquired shares of Paycom Software, Inc. BI Asset Management Fondsmaeglerselskab A S both lessened and increased its stock position in the company. Additionally, Geneos Wealth Management Inc. decreased its holdings in Paycom Software, Inc. These developments have likely contributed to the fluctuations in Paycom Software‘s stock price today.

Paycom Software, Inc. on Smartkarma

Analysts at Baptista Research on Smartkarma have published two bullish research reports on Paycom Software, a provider of cloud-based human capital management software. In their report titled “Paycom Software: International Expansion and Globalisation Effort Paying Off? – Major Drivers,” the analysts highlighted the company’s First Quarter 2024 Financial Results, where Paycom reported a 11% rise in revenue to $500 million, with recurring revenue accounting for 98% of the total. The company also reported a GAAP net income of around $247 million. In another report titled “Paycom Software: 7 Biggest Elements That Could Affect Its Performance In 2024! – Financial Forecasts,” Baptista Research discussed Paycom’s better-than-expected results for the fourth quarter and full year 2023, with total revenues reaching $1.694 billion for the year, a 23% growth compared to the previous year.

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 a high score in Growth, the company is expected to continue expanding and innovating in the future. This indicates a promising long-term outlook for Paycom Software as it continues to develop and improve its offerings to meet the needs of businesses looking to manage the complete employment life cycle.

Additionally, with solid scores in Value, Dividend, Resilience, and Momentum, Paycom Software demonstrates stability and potential for sustained success. These scores suggest that the company is well-positioned to weather market fluctuations and maintain its momentum in the industry. Overall, Paycom Software‘s Smartkarma Smart Scores point towards a bright future for the company as it continues to provide essential functionality and data analytics for businesses of all sizes.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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