Paycom price target lowered to $210 from $245 at Guggenheim

Guggenheim lowered the firm’s price target on Paycom (PAYC) to $210 from $245 and keeps a Buy rating on the shares. Paycom will likely grow Recurring and Other revenue around 10% in 2026, although annual guidance will likely start lower, according to the analyst, who sees no change to the company’s underlying product strength or longer-term HCM opportunity. However, the firm is lowering its price target to reflect the multiple discount relative to HCM peers ahead of the company reporting earnings after market close on February 11.