BMO Capital raised the firm’s price target on Paylocity to $246 from $230 and keeps an Outperform rating on the shares. The company’s Q4 earnings beat delivered a solid finish to the fiscal year, and while the FY24 recurring ex-float guide of 18.5% growth was below BMO’s 19% expectation, it sets an appropriately conservative trajectory and a path for upside as the year progresses, the analyst tells investors in a research note.
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