Paycom Software (PAYC): Good Growth Small Beat - UBS
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
UBS analyst, John Byun, reiterated his Buy rating on shares of Paycom Software (NYSE: PAYC) and increased the price target to $61 from $58 after results showed 40% growth and 23.5% ebitda margins, but smaller rev upside than hoped for.
Expectations had risen ahead of earnings, with stock up 38% YTD and 4% QTD. Investors had gotten used to big rev upsides during periods of ACA tailwind (3Q15-2Q16), but as tough comps begin, smaller yet still consistent topline beats are more likely.
Shares of Paycom Software closed at $52.00 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BWS Financial Cuts Price Target on Sigma Designs (SIGM) to $5.00
- Goldman Sachs Sees 27% Upside in MercadoLibre (MELI) and Raises Rating to 'Buy'
- Credit Suisse Upgrades Juniper Networks (JNPR) to Outperform
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change, Earnings
Related EntitiesUBS, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!