Paycom price target raised to $191 from $160 at Piper Sandler

Piper Sandler analyst Arvind Ramnani raised the firm’s price target on Paycom (PAYC) to $191 from $160 and keeps a Neutral rating on the shares. The firm notes Paycom delivered upside to Q3 revenue expectations, with EBITDA well-ahead of consensus. Given momentum, Piper sees potential upside particularly with margins.