2024-05-21 13:46:44 ET
- Paycom Software ( NYSE: PAYC ) was in focus on Tuesday as Baird tweaked its estimates on the payroll and human resources software company.
- Shares fell around 1% in mid-day trading.
- Analyst Mark Marcon kept his 2024 revenue and adjusted EBITDA estimates unchanged, but tweaked his fiscal 2025 revenue and adjusted EBITDA estimates, as he now sees sales at adjusted EBITDA at $817.1M, down from $817.5M.
- Macron cited higher interest rates and slower growth as reasons for the tweak. He has an Outperform rating and $240 price target on the stock.
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Paycom slips, Baird tweaks estimates