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Paylocity price target lowered to $225 from $235 at Jefferies

Jefferies lowered the firm’s price target on Paylocity (PCTY) to $225 from $235 and keeps a Buy rating on the shares following “strong results” that management attributed to steady demand and solid sales execution. The firm thinks the company’s “relative stability and clear path to positive revisions will be rewarded by investors and allow shares to grind higher,” the analyst says after earnings.

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