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The word on The Street in general, suggests a Strong Buy analyst consensus rating for Paylocity with a $260.33 average price target, which is a 21.4% upside from current levels. In a report issued on February 1, BMO Capital also initiated coverage with a Buy rating on the stock with a $230.00 price target.
Based on Paylocity’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $196 million and net profit of $9.85 million. In comparison, last year the company earned revenue of $146 million and had a net profit of $9.64 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.
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