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Fly News Breaks for October 31, 2018
PAYC
Oct 31, 2018 | 05:27 EDT
Jefferies analyst John DiFucci raised his price target for Paycom to $139 saying the company easily exceeded all Q3 metrics and guided Q4 revenue above estimates. However, Paycom's adjusted EBITDA was "slightly shy" due to increased marketing, DiFucci tells investors in a post-earnings research note. While the stock is "not cheap," Paycom should sustain "material growth and profit for years," says the analyst. He remains a buyer of the stock with a Buy rating.
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