Oppenheimer analyst Brian Schwartz maintained a Hold rating on Paylocity (PCTY) today. The company’s shares opened today at $67.08.
Schwartz said:
“We are lowering our EPS estimates for a higher tax rate assumption. We are making no changes to our revenue forecast nor our Perform rating on PCTY.”
According to TipRanks.com, Schwartz is a top 25 analyst with an average return of 25.5% and a 74.5% success rate. Schwartz covers the Technology sector, focusing on stocks such as Ultimate Software, Instructure Inc, and Salesforce.com.
Currently, the analyst consensus on Paylocity is a Moderate Buy with an average price target of $75.25.
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Based on Paylocity’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $9.85 million. In comparison, last year the company had a net profit of $543K.
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Paylocity Holding Corp. engages in the development and provision of cloud-based software solution. It offers cloud-based payroll, human capital management applications, time labor tracking, benefits administration, and talent management. The company was founded on November 6, 2013 and is headquartered in Arlington Heights, IL.
