Paylocity (PCTY) Receives a Buy from Needham

In a report released today, Scott Berg from Needham assigned a Buy rating to Paylocity (PCTY), with a price target of $140.00. The company’s shares closed last Thursday at $121.47.

According to, Berg is a 5-star analyst with an average return of 14.9% and a 63.9% success rate. Berg covers the Technology sector, focusing on stocks such as GTY Technology Holdings, Cornerstone Ondemand, and Tyler Technologies.

Paylocity has an analyst consensus of Moderate Buy, with a price target consensus of $118.29.

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Based on Paylocity’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $132 million and net profit of $5.47 million. In comparison, last year the company earned revenue of $107 million and had a net profit of $5.7 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.

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