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 TipRanks.com, 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.
See today’s analyst top recommended stocks >>
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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.