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Paycom price target raised to $258 from $244 at BMO Capital

BMO Capital raised the firm’s price target on Paycom (PAYC) to $258 from $244 and keeps a Market Perform rating on the shares. The company posted a beat and raise in Q2, topping the firm’s expectations, the analyst tells investors in a research note. The launch of IWant, Paycom’s AI Search Engine, is the company’s biggest AI push to-date, which will be live across all customers this quarter, BMO added.

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