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Fly News Breaks for October 31, 2018
PAYC
Oct 31, 2018 | 09:16 EDT
Needham analyst Ryan MacDonald raised his price target on Paycom to $150 and kept his Buy rating after its "strong" Q3 results, saying that all of the key metrics were ahead of expectations. The analyst notes that the highlight of the earnings call was the statement by the management that it is "moving upmarket to target customers with up to 5,000 employees vs. 2,000 previously", adding that its "strong history of execution" will allow it to compete "effectively".
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