Paycom price target raised to $196 from $172 at Citi

Citi raised the firm’s price target on Paycom (PAYC) to $196 from $172 and keeps a Neutral rating on the shares. The company reported a solid Q3 and sales activity continued to improve beyond September, the analyst tells investors in a research note. However, the firm remains cautious until it has more conviction in the forward estimate path with a potential last cut into 2025.