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Fly News Breaks for February 6, 2020
PAYC
Feb 6, 2020 | 07:27 EDT
KeyBanc analyst Arvind Ramnani raised his price target for Paycom to $327 from $314 after the company wrapped up Q4 above consensus expectations on the top and bottom line. The FY20 revenue guide range was above the Street, while the midpoint of adjusted EBITDA was modestly below, he adds. While he acknowledges "bears will likely focus on the margin outlook," the analyst views it as conservative given it is early in the year. Ramnani keeps an Overweight rating on the shares.
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