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Fly News Breaks for July 19, 2019
PAYC
Jul 19, 2019 | 04:55 EDT
Jefferies analyst Samad Samana downgraded Paycom Software to Hold from Buy with an unchanged price target of $233. The downgrade is based on valuation and is not a call on the upcoming Q2 results or the company's fundamentals, Samana tells investors in a research note. He points out Paycom shares are up 98% year-to-date with its valuation now around an all-time high. The analyst, however, remains "positively biased" toward the company.
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