- Analyst opinions remain divided over Paycom Software Inc (NYSE:PAYC) post Q4 results.
- Piper Sandler analyst Arvind Ramnani raised the price target on Paycom to $505 from $498 (40% upside) and reiterated an Overweight.
- Paycom's Q4 results "were robust all-around" as revenue came in well above expectations driven by a healthy demand environment, Ramnani says.
- Stifel analyst Brad Reback lowered the price target on Paycom to $420 from $460 (16% upside) to account for multiple contractions in the group and maintained a Buy.
- Paycom's Q4 results beat expectations "across the board," with revenue growth of 29%.
- Reback believes continued robust new customer acquisition, continued salesforce growth, modest acceleration in the overall U.S. employment market, and ARPU gains should allow Paycom to remain a net share gainer.
- Needham analyst Ryan MacDonald maintained a Buy and lowered the price target from $640 to $450 (25% upside).
- Mizuho analyst Siti Panigrahi maintained a Neutral and raised the price target from $325 to $350 (3% downside).
- Price Action: PAYC shares traded higher by 7.66% at $360.68 on the last check Wednesday.
