JMP Securities lowered the firm’s price target on Paylocity to $250 from $320 and keeps an Outperform rating on the shares. Paylocity reported mostly better than expected Q1 results, but guidance was mixed, the analyst tells investors in a research note. While Paylocity is seeing some areas where it takes a bit longer for people to make decisions and the number of employees on the platform moderate as it ended up y/y, but was down sequentially intwo of the three months in the quarter, the firm continues to like this story.
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