BofA lowered the firm’s price target on Paylocity to $180 from $210 and keeps a Neutral rating on the shares. The firm’s lower target reflects revised estimates after an “okay Q1,” the heightened risk it sees in the model and the moderating client employee growth rate, the analyst tells investors in a post-earnings note.
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Read More on PCTY:
- Paylocity price target lowered to $197 from $255 at KeyBanc
- Paylocity price target lowered to $250 from $320 at JMP Securities
- Paylocity backs FY24 revenue view $1.405B-$1.41B, consensus $1.41B
- Paylocity sees Q3 revenue $322.5M-$326.5M, consensus $330.44M
- Paylocity reports Q1 EPS $1.40, consensus $1.14