KeyBanc lowered the firm’s price target on Paylocity (PCTY) to $190 from $225 and keeps an Overweight rating on the shares. The firm notes Paylocity posted another solid quarter, with Q2 recurring revenue growth coming in at 11.3% on continued execution and modestly better workforce level. That said, the magnitude of the revenue outperformance was slightly below prior quarterly beats.
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Read More on PCTY:
- Paylocity price target lowered to $149 from $179 at Citi
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