BMO Capital analyst Daniel Jester raised the firm’s price target on Paycom to $302 from $289 but keeps a Market Perform rating on the shares. The company’s Q1 results were "solid" and surpassing lowered expectations while giving a generally supportive read-through to forthcoming peer results, the analyst tells investors in a research note. The launch of the Global HCM product eventually targeting international opportunities comes with greater market complexity and some formidable local competitors however, the firm added.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on PAYC:
- Paycom price target lowered to $399 from $417 at Piper Sandler
- Paycom price target lowered to $300 from $350 at Mizuho
- Paycom price target lowered to $375 from $430 at Credit Suisse
- Paycom price target lowered to $405 from $432 at KeyBanc
- Paycom raises FY23 revenue view to $1.713B-$1.715B, consensus $1.7B
