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Fly News Breaks for May 1, 2019
CDAY, PCTY, PAYC
May 1, 2019 | 07:49 EDT
KeyBanc analyst Brent Bracelin raised his price target for Paycom (PAYC) to $215 from $210 after the company delivered Q1 ahead of estimates, and raised 2019 guidance, driven by focused sales efforts and robust demand for HR Software solutions. The analyst believes that raising full-year targets early in the year is indicative of management's confidence of deal momentum. Bracelin adds that Paycom's results further elevate expectations for Paylocity (PCTY) and Ceridian (CDAY). He reiterates an Overweight rating on Paycom's shares.
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