Paylocity Gets a Buy Rating from Stifel Nicolaus

By Jason Carr

Stifel Nicolaus analyst Brad Reback reiterated a Buy rating on Paylocity (NASDAQ: PCTY) on August 10 and set a price target of $55. The company’s shares closed yesterday at $45.

According to TipRanks.com, Reback is a 5-star analyst with an average return of 11.7% and a 62.4% success rate. Reback covers the Technology sector, focusing on stocks such as CSG Systems International, Synchronoss Technologies, and Intralinks Holdings.

Currently, the analyst consensus on Paylocity is Moderate Buy and the average price target is $52.75, representing a 17.2% upside.

In a report issued on July 30, RBC Capital also reiterated a Buy rating on the stock with a $56 price target.

The company has a one year high of $49.65 and a one year low of $29.69. Currently, Paylocity has an average volume of 281.1K.

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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.