Piper Sandler analyst Arvind Ramnani maintained a Hold rating on Paylocity (PCTY) today and set a price target of $184.00. The company’s shares closed last Friday at $166.78.
According to TipRanks.com, Ramnani is a 4-star analyst with an average return of 14.4% and a 67.6% success rate. Ramnani covers the Technology sector, focusing on stocks such as Upstart Holdings, Epam Systems, and Q2 Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Paylocity with a $212.25 average price target, which is a 27.8% upside from current levels. In a report issued on April 22, Wolfe Research also initiated coverage with a Hold rating on the stock with a $200.00 price target.
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Based on Paylocity’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $146 million and net profit of $9.64 million. In comparison, last year the company earned revenue of $132 million and had a net profit of $5.47 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.