Paycom shares jump on annual forecast boost

Shares of payroll processor Paycom Software PAYC.N rise as much as 11.5% to $248.95, hitting a more than one-month high

Co raised its forecast for annual revenue and profit on Wednesday, citing demand boost in its employee management services fueled by the addition of AI features

Paycom expects fiscal 2025 revenue in a range of $2.05 billion to $2.06 billion, above its previous view of $2.02 billion to $2.04 billion

At least six brokerages raise PT on the stock after results

"The company now has arguably its most interesting product story in many years with its new genAI powered IWant solution, which seems to have a compelling value proposition" -Barclays

Average rating on PAYC is "hold"; median PT is $246 -LSEG

As of last close Paycom shares up ~9% YTD