UPDATE: Barclays Initiates Paycom Software at Overweight
In a report released Monday May 12th, Barclays initiated Paycom Software, Inc. (NYSE: PAYC) to an Overweight rating with a target price of $21.
Raimo Lenschow of Barclays anticipates much potential room for multi-year growth due to Paycom's estimated TAM of $24 Billion and their expected expansion into new regions. Also Lenschow see's Paycom's growth to be “attractively priced” compared to other companies in the industry.
Paycom is currently down 2.52% to $14.15 at the last checked trade.
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