Paycom price target raised to $428 from $361 at Citi

Citi analyst Steven Enders raised the firm’s price target on Paycom to $428 from $361 and keeps a Buy rating on the shares. The analyst sees a “relatively strong” Q2 for application software names with most upside likely coming from Paycom Software (PAYC) and Monday.Com (MNDY). Channel checks noted some stabilization in the deal environment with mid-market relatively stronger than enterprise, the analyst tells investors in a research note.