Paycom price target raised to $229 from $181 at Barclays

Barclays analyst Raimo Lenschow raised the firm’s price target on Paycom (PAYC) to $229 from $181 and keeps an Equal Weight rating on the shares. With software “back in favor again,” valuation levels have now caught up to historical averages, the analyst tells investors in a research note. However, the firm says there could be further upside as estimates have not moved higher yet and as base valuations shift out another year to 2026.