Citigroup Downgrades Paycom Software to Neutral, Lowers Price Target to $189
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Steven Enders has downgraded Paycom Software (NYSE:PAYC) from Buy to Neutral and lowered the price target from $360 to $189.
November 01, 2023 | 12:46 pm
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NEGATIVE IMPACT
Paycom Software has been downgraded from Buy to Neutral by Citigroup, with a lowered price target of $189.
The downgrade from Buy to Neutral by Citigroup indicates a less optimistic outlook for Paycom Software. The lowered price target from $360 to $189 suggests that the analyst believes the stock is overvalued at its current price, which could lead to a decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100