Barclays analyst Raimo Lenschow lowered the firm’s price target on Paycom (PAYC) to $221 from $229 and keeps an Equal Weight rating on the shares as part of a Q4 preview for the U.S. software group. The firm is positive on the Q4 software earnings season. Barclays’ channel checks are slightly better and, more importantly, optimism in the field is growing for a better 2025, the analyst tells investors in a research note. The firm believes Street estimates for the quarter and the new fiscal year “are also in a good place which creates a favorable set-up.” It likes like Microsoft (MSFT), Dynatrace (DT), and Paylocity (PCTY) into earnings.
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