On Nov 01, major Wall Street analysts update their ratings for $Paycom Software (PAYC.US)$, with price targets ranging from $175 to $220.
BofA Securities analyst Michael Funk initiates coverage with a hold rating, and sets the target price at $220.
Citi analyst Steve Enders maintains with a hold rating, and adjusts the target price from $172 to $196.
Barclays analyst Raimo Lenschow maintains with a hold rating, and adjusts the target price from $172 to $181.
Jefferies analyst Samad Samana maintains with a hold rating, and adjusts the target price from $170 to $175.
TD Cowen analyst Jared Levine maintains with a hold rating, and adjusts the target price from $188 to $180.
Furthermore, according to the comprehensive report, the opinions of $Paycom Software (PAYC.US)$'s main analysts recently are as follows:
The company delivered a strong performance in the third quarter, with sales momentum maintaining its uptrend beyond September. Despite this positive trend, a cautious stance is being maintained pending greater confidence in the trajectory of future estimates, considering the possibility of further revisions extending into 2025.
Paycom's recent quarter saw revenue growth exceeding expectations at 11%, a figure surpassing relatively modest forecasts. The company's performance in terms of revenue was consistent with that of its industry counterparts, and its EBITDA notably outperformed, according to an analyst.
Paycom surpassed expectations for total revenue and EBITDA. Despite the Q4 revenue outlook's midpoint not meeting consensus, investor discussions implied a readiness for this outcome, as noted in a post-earnings commentary.
Here are the latest investment ratings and price targets for $Paycom Software (PAYC.US)$ from 12 analysts:
Note:
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