In a report released yesterday, Jared Levine from TD Cowen maintained a Buy rating on Paylocity, with a price target of $225.00.
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Jared Levine has given his Buy rating due to a combination of factors that suggest a positive outlook for Paylocity’s stock. The company has demonstrated strong performance with a better-than-expected FY26 ex float growth guide of 9.0%, surpassing the anticipated 8% target. This indicates solid execution on controllable factors and suggests continued growth potential.
Additionally, Paylocity’s recent $500 million expansion of its share repurchase authorization, which represents about 5% of its market cap, is seen as a positive move that could enhance shareholder value. Despite some macroeconomic challenges affecting client employment levels, the company’s stable demand environment and strategic initiatives, such as the integrated Airbase offering, support its medium-term growth prospects. These factors, combined with a consistent retention rate and potential tax change benefits, underpin Levine’s optimistic Buy rating.
In another report released on August 1, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $210.00 price target.