Paycom Software, Inc.’s Stock Price Soars to $158.10, Marking a Robust 2.14% Increase

Paycom Software, Inc. (PAYC)

158.10 USD +3.31 (+2.14%) Volume: 0.75M

Paycom Software, Inc.’s stock price stands at 158.10 USD, witnessing an uptick of +2.14% in the latest trading session on a volume of 0.75M shares, despite a YTD decrease of -23.52%, presenting a dynamic landscape for investors and traders in the HR software market.

Latest developments on Paycom Software, Inc.

Paycom Software (NYSE:PAYC) has seen a 7.1% increase in its stock price this past week, possibly due to investors taking note of the company’s impressive three-year earnings growth. CEO Chad R. Richison recently sold 1,950 shares of Paycom Software stock, while Mitsubishi UFJ Asset Management Co. Ltd. disclosed a $12.85 million stake in the company. Additionally, Barclays lowered the price target for Paycom Software to $161.00, and Oppenheimer & Co. Inc. reduced its position in the stock. In other news, Archana Vemulapalli was appointed to Paycom’s Board of Directors, and Chris Thomas was promoted to Co-CEO alongside Chad Richison.

Paycom Software, Inc. on Smartkarma

Analysts on Smartkarma, like Baptista Research, are bullish on Paycom Software‘s international expansion and globalisation efforts. According to their research report titled “Paycom Software: International Expansion and Globalisation Effort Paying Off? – Major Drivers,” Paycom Software Inc. saw a significant 11% rise in Q1 revenue to $500 million, with recurring revenue making up 98% of the total. The company also reported a GAAP net income of around $247 million, or $4.37 per diluted share based on approximately 57 million shares.

In another report by Baptista Research, titled “Paycom Software: 7 Biggest Elements That Could Affect Its Performance In 2024! – Financial Forecasts,” analysts highlighted Paycom Software‘s better-than-expected results for the fourth quarter and full year 2023. The company’s revenue for the year was $1.694 billion, showing a growth of 23% compared to the previous year. Total revenues for the fourth quarter were $435 million, reflecting a growth of 17% over the comparable prior-year period. The growth in revenues was attributed to new business wins, slightly offset by lower cross-selling to existing clients.

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 been given a positive outlook based on Smartkarma Smart Scores. With a strong score of 5 for Growth, the company is expected to experience significant expansion and development in the future. This suggests that Paycom Software is well-positioned to capitalize on opportunities for growth and innovation within the industry.

Additionally, Paycom Software received scores of 3 for Value, Dividend, Resilience, and Momentum. This indicates that the company is perceived as having moderate value, stability, and momentum in the market. While not the highest scores, they still show that Paycom Software is a solid and reliable player in the industry. Overall, Paycom Software‘s Smartkarma Smart Scores point towards a promising long-term outlook for the company.

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