Needham analyst Scott Berg reiterated a Buy rating on Paylocity (PCTY) today and set a price target of $115.00. The company’s shares closed last Monday at $100.28.
According to TipRanks.com, Berg is a 5-star analyst with an average return of 13.8% and a 60.9% success rate. Berg covers the Technology sector, focusing on stocks such as Ceridian HCM Holding Inc, Tyler Technologies, and Upland Software.
Paylocity has an analyst consensus of Strong Buy, with a price target consensus of $117.43.
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Based on Paylocity’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $10.24 million. In comparison, last year the company had a net profit of $9.85 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.