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Fly News Breaks for August 1, 2018
PAYC
Aug 1, 2018 | 07:52 EDT
Oppenheimer analyst Brian Schwartz raised his price target for Paycom to $127 from $120 after the company reported an "excellent" Q2 marked by a meaningful uptick to cash flow growth and to the revenue and EBITDA beat-and-raise trends, which support the company valuation. On balance, the analyst believes the Q3 growth guidance implies little sequential growth, but may prove conservative since management commentary indicated no unusual activity in the Q2 deals or revenue pull-forward. He reiterates an Outperform rating on the shares.
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