Paycom (PAYC) Gets a Hold Rating from Credit Suisse

By Ryan Adsit

Credit Suisse analyst Brad Zelnick maintained a Hold rating on Paycom (PAYCResearch Report) on October 29 and set a price target of $235.00. The company’s shares closed last Monday at $213.00.

According to TipRanks.com, Zelnick is a 5-star analyst with an average return of 14.6% and a 71.4% success rate. Zelnick covers the Technology sector, focusing on stocks such as Zoom Video Communications Inc Class A, Slack Technologies Inc, and Pivotal Software Inc.

Paycom has an analyst consensus of Moderate Buy, with a price target consensus of $249.13, a 17.0% upside from current levels. In a report released yesterday, RBC Capital also maintained a Hold rating on the stock with a $230.00 price target.

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Based on Paycom’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $48.71 million. In comparison, last year the company had a net profit of $28.73 million.

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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.