In a report released today, Robert Breza from Northland Securities maintained a Buy rating on Paylocity (PCTY), with a price target of $125. The company’s shares closed yesterday at $106.90, close to its 52-week high of $107.74.
Breza wrote:
“We expect the company to continue growing 25% while improving margins thus we are increasing our price target to $125.”
According to TipRanks.com, Breza is a 5-star analyst with an average return of 14.0% and a 63.0% success rate. Breza covers the Technology sector, focusing on stocks such as Coupa Software Inc, MobileIron, Inc., and Salesforce.com.
Currently, the analyst consensus on Paylocity is a Moderate Buy with an average price target of $110, a 2.9% upside from current levels. In a report released yesterday, JMP Securities also maintained a Buy rating on the stock with a $115 price target.
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Based on Paylocity’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $28.03 million. In comparison, last year the company had a GAAP net loss of $1.55 million.
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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.
