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Paylocity (PCTY) Receives a Hold from Mizuho Securities

In a report released yesterday, Siti Panigrahi from Mizuho Securities maintained a Hold rating on Paylocity (PCTYResearch Report), with a price target of $185.00. The company’s shares closed last Friday at $181.58.

According to TipRanks.com, Panigrahi is a 1-star analyst with an average return of -4.2% and a 43.4% success rate. Panigrahi covers the Technology sector, focusing on stocks such as Zoom Video Communications, ZoomInfo Technologies, and Ceridian HCM Holding.

Paylocity has an analyst consensus of Strong Buy, with a price target consensus of $253.25, a 33.3% upside from current levels. In a report released yesterday, Credit Suisse also maintained a Hold rating on the stock with a $195.00 price target.

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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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