Paycom price target lowered to $300 from $350 at Mizuho

Mizuho analyst Siti Panigrahi lowered the firm’s price target on Paycom to $300 from $350 and keeps a Neutral rating on the shares post the Q1 results. Payroll companies remain resilient with the backdrop of low unemployment and ongoing labor shortages, but this expectation is already factored into the current valuation, the analyst tells investors in a research note.