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Fly News Breaks for May 1, 2019
PAYC
May 1, 2019 | 08:22 EDT
Oppenheimer analyst Brian Schwartz raised his price target for Paycom to $220 from $175 on higher estimates, and after the company sustained "good momentum" with another beat-and-raise quarter. The analyst believes Paycom's "proven successful" sales motion, "unique" ability to inspire market changes, regular releases of new modules and functionality, and lingering competitor challenges and displacements have put the company in a "stronger position" to capture a large TAM opportunity. Schwartz reiterates an Outperform rating on the shares.
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