Raymond James lowered the firm’s price target on Paylocity (PCTY) to $235 from $265 and keeps an Outperform rating on the shares. Paylocity’s Q3 results broadly exceeded Street estimates, showing another quarter of impressive execution in a choppy macro, the analyst tells investors in a research note. The firm believes Paylocity’s mid-teens recurring growth and healthy margin profile warrant “more interest.”
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Read More on PCTY:
- Paylocity price target raised to $258 from $254 at Piper Sandler
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