Analyst opinions remain divided over Paycom Software Inc. post Q4 results. Piper Sandler analyst Arvind Ramnani raised the price target on Paycom to $505 from $498 (40 percent upside) and reiterated an Overweight. Paycom’s Q4 results “were robust all-around” as revenue came in well above expectations driven by a healthy demand environment, Ramnani says. Stifel analyst Brad Reback lowered the price target on Paycom to $420 from $460 (16 percent upside) to account for multiple contractions in the group and maintained a Buy. Paycom’s Q4 results beat expectations “across the board,” with revenue growth of 29 percent. Reback believes continued robust new customer acquisition, continued salesforce growth, modest acceleration in the overall U.S. employment market, and ARPU gains should allow Paycom to remain a net share gainer. Needham analyst Ryan MacDonald maintained a Buy and lowered the price target from $640 to $450 (25 percent upside). Mizuho analyst Siti Panigrahi maintained a Neutral and raised the price …