Paycom shares jump on annual forecast boost

** Shares of payroll processor Paycom Software PAYC 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