Analysts have been eager to weigh in on the Technology sector with new ratings on Paylocity (PCTY), Open Text (OTEX) and BCE (BCE).
Paylocity (PCTY)
In a report issued on February 5, Matthew Hedberg from RBC Capital maintained a Buy rating on Paylocity, with a price target of $230.00. The company’s shares closed last Monday at $207.64, close to its 52-week high of $218.34.
According to TipRanks.com, Hedberg is a top 25 analyst with an average return of 41.7% and a 81.0% success rate. Hedberg covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, CrowdStrike Holdings, and Palo Alto Networks.
Paylocity has an analyst consensus of Moderate Buy, with a price target consensus of $223.86, representing a 9.9% upside. In a report issued on January 26, JMP Securities also maintained a Buy rating on the stock with a $220.00 price target.
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Open Text (OTEX)
RBC Capital analyst Paul Treiber maintained a Buy rating on Open Text on February 4 and set a price target of $60.00. The company’s shares closed last Monday at $49.26, close to its 52-week high of $49.83.
According to TipRanks.com, Treiber is a 5-star analyst with an average return of 22.0% and a 77.5% success rate. Treiber covers the Technology sector, focusing on stocks such as Enghouse Systems, Sierra Wireless, and BlackBerry.
Currently, the analyst consensus on Open Text is a Strong Buy with an average price target of $45.46, a -7.3% downside from current levels. In a report issued on January 20, Scotiabank also maintained a Buy rating on the stock with a C$51.00 price target.
BCE (BCE)
In a report issued on February 4, Drew Mcreynolds from RBC Capital maintained a Hold rating on BCE, with a price target of C$58.00. The company’s shares closed last Monday at $43.65.
According to TipRanks.com, Mcreynolds is a 4-star analyst with an average return of 9.4% and a 62.6% success rate. Mcreynolds covers the Technology sector, focusing on stocks such as Rogers Communication, Quebecor, and Telus.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for BCE with a $47.17 average price target, an 8.2% upside from current levels. In a report issued on January 22, J.P. Morgan also maintained a Hold rating on the stock with a C$60.00 price target.
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