Paylocity (PCTY) Gets a Buy Rating from Needham

Needham analyst Scott Berg maintained a Buy rating on Paylocity (PCTYResearch Report) today and set a price target of $110.00. The company’s shares closed last Monday at $82.25.

According to TipRanks.com, Berg is a 5-star analyst with an average return of 6.7% and a 54.3% success rate. Berg covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Ceridian HCM Holding, and Tyler Technologies.

Currently, the analyst consensus on Paylocity is a Moderate Buy with an average price target of $148.58, a 78.2% upside from current levels. In a report issued on March 18, Craig-Hallum also upgraded the stock to Buy with a $125.00 price target.

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Paylocity’s market cap is currently $4.41B and has a P/E ratio of 79.34. The company has a Price to Book ratio of 13.29.

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Paylocity Holding Corp. engages in the development and provision of cloud-based software solution. It offers cloud-based payroll, human capital management applications, time labor tracking, benefits administration, and talent management. The company was founded on November 6, 2013 and is headquartered in Arlington Heights, IL.