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Fly News Breaks for February 6, 2020
PAYC
Feb 6, 2020 | 08:03 EDT
Credit Suisse analyst Brad Zelnick raised his price target for Paycom to $290 from $235 after improving sales productivity and employee engagement strategy helped the company deliver "solid" Q4 results and 2020 revenue guidance. Fiscal Year 2020 EBITDA margin was guided below expectations, as the company invests in marketing campaigns and additional sales capacity, but remains conservative in his view. Zelnick keeps a Neutral rating on the shares given valuation.
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