Barclays lowered the firm’s price target on Paylocity to $160 from $178 and keeps an Equal Weight rating on the shares as part of a Q2 preview for on-cycle software names. Software is set-up for a “very binary Q2,” the analyst tells investors in a research note. The firm says this earnings season will be crucial for gauging the rest of the year. Its checks “are solid so there could be a come back story,” but currency “could spoil the party somewhat,” contends Barclays.
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