Paycom price target raised to $197 from $183 at BMO Capital

BMO Capital raised the firm’s price target on Paycom (PAYC) to $197 from $183 and keeps a Market Perform rating on the shares. Against relatively low expectations, the upside in the quarter to 11% revenue growth was better than expected with underlying business conditions sounding similar to peers, while its EBITDA was much stronger, the analyst tells investors in a research note.