Paycom Shares Slide Nearly 5% Despite Strong ROI Study Results

(RTTNews) - Paycom Software, Inc. (PAYC) is trading at $225.01, down 4.27 percent, or $10.04 on Wednesday, following the release of a Forrester Consulting study highlighting a 362 percent three-year ROI from its software. Despite the favorable findings, which include substantial HR time savings and reduced compliance effort, investor sentiment appears cautious.

The stock opened at $234.72 and has ranged between $222.96 and $235.35 so far today on the New York Stock Exchange. Volume has reached 262,916, below the average daily volume of 603,361. Paycom's 52-week range is $139.50 to $267.76.