Paycom price target raised to $250 from $241 at TD Cowen

TD Cowen analyst Jared Levine raised the firm’s price target on Paycom (PAYC) to $250 from $241 and keeps a Hold rating on the shares. The firm met with management and noted the company has steadied the ship and is back on the offensive, supporting improving investor sentiment. Following recent outperformance in shares, Cowen awaits greater comfort on sustaining sales momentum, increasing retention, and the medium-term outlook for capex.