2020-11-05 07:31:19 PAYC Paycom
11/05/20 11/0507:31 11/05/2007:31 | Paycom price target raised to $290 from $270 at Credit SuisseCredit Suisse analyst Brad Zelnick raised the firm's price target on Paycom to $290 from $270 and keeps an Underperform rating on the shares. The analyst notes that Paycom reported Q3 results well ahead of consensus and guided Q4 in line. New business trends continue to be very healthy, with the company continuing to lean into S&M to drive growth, Zelnick adds. The analyst points out, however, that employee counts at existing customers have not improved alongside employment statistics, and that this will likely continue to be the case without catalysts like additional government stimulus. |
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