UPDATE: Wolfe Research Starts Paylocity Holding (PCTY) at Peerperform

April 22, 2021 4:25 PM EDT
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Price: $163.38 +2.29%

Rating Summary:
    15 Buy, 10 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 14 | Down: 5 | New: 58
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(Updated - April 22, 2021 4:40 PM EDT)

Wolfe Research analyst Alex Zukin initiates coverage on Paylocity Holding (NASDAQ: PCTY) with a Peerperform rating and a price target of $200.00.

The analyst comments "We see three primary catalysts for Paylocity’s business in 2021 (FY21/22). First is the continued macroeconomic recovery, which should support revenue growth through both employment tailwinds and better revenue from float. Second is upside to “per employee per year” (PEPY) fees, as well as retention rates, driven by a broadened product portfolio including new functionality such as collaboration (Samepage acquisition) and video (VidGrid acquisition). Finally, the third key catalyst we see is a reacceleration in sales rep hiring after a slower year due to COVID."

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 $192.35 yesterday.

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