Paylocity initiated with a Sector Perform at Scotiabank

Scotiabank initiated coverage of Paylocity (PCTY) with a Sector Perform rating and $190 price target The firm leans positive on the company’s upcoming fiscal Q3 earnings print, it thinks Paylocity “left plenty of room to once again beat and raise guidance.” That said, the company’s organic recurring revenue growth could slow to low double digits exiting fiscal 2025, the analyst tells investors in a research note.