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Not worried that Paycom Software (PAYC) isn’t spending enough on R&D, shareholders ran up the stock early Tuesday after Pacific Crest Securities raised its price target. In a research note Tuesday, Pac Crest analyst Brendan Barnicle made his case that some of Paycom’s research and development spending was booked elsewhere. Barnicle said Pacific Crest hosted Paycom CEO Chad Richison in Los Angeles on Monday. “Paycom’s research and development Scalper1 News
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