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Fly News Breaks for August 10, 2016
PCTY
Aug 10, 2016 | 09:37 EDT
Needham analyst raised his price target for Paylocity to $58 from $45 after the company reported another "exceptionally strong" sales quarter, with upside to both revenue and EPS. The analyst reiterates a Buy rating on the shares as he believes the company's recent sales capacity increases could position Paylocity for additional 30% revenue growth in 2018 if the demand environment remains favorable.
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