BMO Capital lowered the firm’s price target on Paylocity (PCTY) to $150 from $185 and keeps an Outperform rating on the shares. The company posted a good, but not great, quarter with recurring growth upside coming in lighter than expected, the analyst tells investors in a research note. Paylocity has executed well through this industry-wide slowdown by expanding the product suite and making good strides in scaling profits, BMO added.
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Read More on PCTY:
- Paylocity price target lowered to $165 from $188 at Stifel
- Reaffirming Paylocity as a Buy: Consistent Outperformance, Expanding Product Suite, and Reinvestment-Fueled Growth
- Paylocity price target lowered to $150 from $180 at Mizuho
- Paylocity price target lowered to $150 from $180 at BTIG
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