Paycom Shares Surge on BTIG's 'Buy' Rating

Paycoms shares surged by three percent today following BTIGs Buy rating and a price target of $195 per share, marking a significant shift from previous neutral to negative analyst reports. Despite a slight setback, the stock closed up 2.7%, indicating market recognition of this positive outlook. However, Paycoms adjusted earnings of $1.94 per share, slightly below expectations, and a slowdown in billing growth suggest potential challenges due to increasing competition.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.