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Fly News Breaks for January 26, 2016
PCTY
Jan 26, 2016 | 07:11 EDT
As previously reported, BofA/Merrill analyst Kash Rangan downgraded Paylocity to Underperform from Neutral and lowered his price target to $31 from $40. Rangan is concerned about premium valuation iin the entire SaaS HCM space and believes Paylocity is expensive relative to the group.
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