UPDATE: Wolfe Research Starts Paycom Software (PAYC) at Outperform

April 22, 2021 4:25 PM EDT
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Price: $321.29 +1.29%

Rating Summary:
    15 Buy, 11 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 26 | Down: 19 | New: 41
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(Updated - April 22, 2021 4:39 PM EDT)

Wolfe Research analyst Alex Zukin initiates coverage on Paycom Software (NYSE: PAYC) with a Outperform rating and a price target of $450.00.

The analyst comments "We see three primary catalysts for Paycom’s business in 2021. First and foremost is the recovery in the macroeconomic situation, which will benefit Paycom from both an easier purchasing environment as well as improving employment tailwinds. Second is upside to revenue retention from an expanded product portfolio and sales team. Finally, we view the company’s move up-market as being a well-timed strategy as larger businesses are likely to see an accelerated economic recovery this year and easier IT spending environment relative to the last several quarters."

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 $388.25 yesterday.

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