In a report released yesterday, Brent Bracelin from KeyBanc maintained a Buy rating on Paycom (PAYC), with a price target of $215. The company’s shares closed yesterday at $202.53, close to its 52-week high of $203.04.
Bracelin wrote:
“We are raising our estimates and price target on continued execution and secular demand trends for the industry. PAYC’s results further elevate expectations for PCTY and CDAY.”
According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 29.8% and a 78.8% success rate. Bracelin covers the Technology sector, focusing on stocks such as Tyler Technologies, Coupa Software Inc, and Salesforce.com.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Paycom with a $182.64 average price target, which is a -9.8% downside from current levels. In a report issued on April 18, Northland Securities also assigned a Buy rating to the stock with a $215 price target.
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The company has a one-year high of $203.04 and a one-year low of $96.44. Currently, Paycom has an average volume of 653K.
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Paycom Software, Inc. provides comprehensive, cloud-based human capital management (HCM) software solutions delivered as Software-as-a-Service. It provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement.
