BofA downgraded Paycom to Neutral from Buy with a price target of $185, down from $330, after the company reported “surprisingly disappointing” Q3 results, guided down its Q4 and issued “a meaningful reset” for calendar 2024. Commentary suggests the macro was mostly stable and the weak results were “likely idiosyncratic,” the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on PAYC: