William Blair analyst Jake Roberge has maintained their bullish stance on PCTY stock, giving a Buy rating today.
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Jake Roberge has given his Buy rating due to a combination of factors discussed during recent meetings with Paylocity’s CFO, Ryan Glenn. The discussions highlighted Paylocity’s strategic expansion into finance and IT workflows, which positions the company to tap into broader markets beyond its traditional HR offerings.
Additionally, the company has updated its long-term model to reflect these new growth opportunities, indicating a positive outlook despite the competitive landscape. These developments, coupled with a favorable macroeconomic and demand environment, support the Buy rating as they suggest potential for increased revenue and market share.
According to TipRanks, Roberge is an analyst with an average return of -3.4% and a 39.01% success rate. Roberge covers the Technology sector, focusing on stocks such as Jamf Holding, Adobe, and UiPath.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $184.00 price target.