Jefferies Downgrades Paylocity Holding (PCTY) to Hold

Jefferies analyst Samad Samana downgraded Paylocity Holding (NASDAQ: PCTY) from Buy to Hold with a price target of $180.00 (from $240.00).

The analyst comments "PCTY: Lowering PT to $180. We are downgrading PCTY to a Hold and lowering our PT from $240 to $180. In addition to the group view, we also considered the following: 1) the risk that F2H guidance needs to be revised lower and 2) that PCTY’s sub rev growth will remain below 20% going forward."

For an analyst ratings summary and ratings history on Paylocity Holding click here. For more ratings news on Paylocity Holding click here.

Shares of Paylocity Holding closed at $160.13 yesterday.

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