B of A Securities Downgrades Paycom Software to Neutral, Lowers Price Target to $185
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Adam Bergere has downgraded Paycom Software (NYSE:PAYC) from Buy to Neutral and lowered the price target from $330 to $185.
November 02, 2023 | 3:35 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Paycom Software has been downgraded from Buy to Neutral by B of A Securities, with a lowered price target from $330 to $185.
The downgrade from Buy to Neutral by B of A Securities indicates a less optimistic outlook for Paycom Software. The significant reduction in the price target from $330 to $185 also suggests that the analyst believes the stock is overvalued at its current price. This could lead to a decrease in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100