Paycom price target lowered to $185 from $191 at Citi

Group 1 - Citi lowered the price target on Paycom (PAYC) to $185 from $191 while maintaining a Neutral rating on the shares [1] - The firm adjusted its models in the application software group after discussions with management [1] - Companies are experiencing a stable but uncertain demand environment, with some relief from the reopening of the U.S. government [1] Group 2 - Citi has named Pegasystems (PEGA) as its new top pick, highlighting the company's leadership in artificial intelligence monetization [1] - The firm also sees growth opportunities at Blackline (BL) and Workiva (WK) [1]