Stephens analyst Charles Nabhan initiated coverage of Paylocity (PCTY) with an Equal Weight rating and $200 price target The firm believes the company is well positioned to gain share “while navigating sub-optimal labor market conditions,” but believes the valuation reflects expectations of a conservative guide with modest outperformance as we move through the year approaching the end of the company’s fiscal year 2025 and the introduction of FY26 guidance, the analyst tells investors.
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