UPDATE: JPMorgan Downgrades Paycom Software (PAYC) to Underweight

April 23, 2020 4:38 AM EDT
Get Alerts PAYC Hot Sheet
Price: $395.90 +2.69%

Rating Summary:
    15 Buy, 11 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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(Updated - April 23, 2020 4:43 AM EDT)

(updating comment)

JPMorgan analyst Mark Murphy downgraded Paycom Software (NYSE: PAYC) from Neutral to Underweight with a price target of $200.00.

THe analyst comments "We are downgrading PAYC to Underweight from Neutral and maintaining our Dec 2020 PT of $200, which is based on ~13x EV/CY20E rev. This multiple reflects solid execution, superior growth profile, and a recently increased revenue guidance and adj. EBITDA guidance. We believe that Paycom deserves a premium to its peer group currently trading at ~7x as Paycom is growing faster than its peers (20% y/y vs. 12% peer growth), and its revenue has been entirely organic while being more profitable."

For an analyst ratings summary and ratings history on Paycom Software click here. For more ratings news on Paycom Software click here.

Shares of Paycom Software closed at $217.74 yesterday.


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