Paycom price target raised to $183 from $160 at BMO Capital

BMO Capital raised the firm’s price target on Paycom to $183 from $160 and keeps a Market Perform rating on the shares. The company’s Q2 results were “largely in line with expectations” though positively, Paycom had supportive commentary on units sold and the upsized and extended repurchase program, the analyst tells investors in a research note. BMO adds however that Paycom lowered its revenue outlook, and the firm sees margin compression as likely to persist into early next year as the company drives investments.