Paycom Software (PAYC) PT Raised to $155 at Credit Suisse

Credit Suisse analyst Brad Zelnick raised the price target on Paycom Software (NYSE: PAYC) to $155.00 (from $125.00) while maintaining a Neutral rating following the company's 4Q earnings report following the company's 4Q earnings report. 4Q revenue of $150.3mn exceeded Street $144.1mn, and was driven by better recurring revenue. Non-GAAP EPS of $0.61 compares with consensus $0.56.

FY19 revenue guidance of $710-712mn and $288-290mn in Adjusted EBITDA compares to Street $696m/$289mn and implies EBITDA margins of 40.6% below Street 42.3%.

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