Guggenheim has initiated coverage of Paycom Software (PAYC) with a buy recommendation. This opinion was echoed by TD Cowen, who has upgraded the company to a buy rating and raised its price target. A potential return on a $1000 investment in Paycom Software 10 years ago was highlighted, while the company's stock performance was compared to that of other software stocks. However, some dispute the rate of returns, stating that PAYC shares have not been profitable for investors in the past three years.
Investor sentiment towards Paycom has been positively impacted by recent board changes and analyst optimism despite concerns about sluggish earnings. The company's shift towards tech and innovation in its executive team has been applauded and is expected to influence its investment narrative. The stock has risen by more than 20% due to these changes. Paycom has also been commended for automating Payroll and HCM solutions.
Paycom's Q2 earnings exceeded expectations, and the company also raised its 2025 revenue and profit forecast backed by AI-driven demand. The quarter's earnings and revenues beat estimates, boosting the stock by 10%. KeyBanc reiterated their overweight rating of Paycom's stock following these announcements.
Paycom Software PAYC News Analytics from Wed, 12 Feb 2025 08:00:00 GMT to Sat, 27 Sep 2025 19:37:43 GMT - Rating 7 - Innovation 8 - Information 7 - Rumor 3
