In a report released yesterday, Brian Peterson from Raymond James reiterated a Buy rating on Paylocity (PCTY), with a price target of $205.00. The company’s shares closed last Thursday at $171.07.
According to TipRanks.com, Peterson is a top 100 analyst with an average return of 30.4% and a 67.7% success rate. Peterson covers the Technology sector, focusing on stocks such as Qualtrics International, Duck Creek Technologies, and ZoomInfo Technologies.
Currently, the analyst consensus on Paylocity is a Moderate Buy with an average price target of $221.67, a 28.7% upside from current levels. In a report released today, Needham also reiterated a Buy rating on the stock with a $260.00 price target.
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Paylocity’s market cap is currently $9.3B and has a P/E ratio of 144.90. The company has a Price to Book ratio of 29.37.
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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.