Needham Maintains a Buy Rating on Paycom (PAYC)

By Jason Carr

Needham analyst Ryan MacDonald maintained a Buy rating on Paycom (PAYCResearch Report) today and set a price target of $250.00. The company’s shares closed last Monday at $192.81, close to its 52-week low of $174.02.

According to TipRanks.com, MacDonald is a 2-star analyst with an average return of -2.3% and a 39.4% success rate. MacDonald covers the Technology sector, focusing on stocks such as Verint Systems, ChannelAdvisor, and Coupa Software.

Currently, the analyst consensus on Paycom is a Moderate Buy with an average price target of $292.46, implying a 43.9% upside from current levels. In a report issued on March 12, Citigroup also maintained a Buy rating on the stock with a $326.00 price target.

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The company has a one-year high of $342.00 and a one-year low of $174.02. Currently, Paycom has an average volume of 1.04M.

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Paycom Software, Inc. provides comprehensive, cloud-based human capital management (HCM) software solutions delivered as Software-as-a-Service. It provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement.