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Fly News Breaks for April 23, 2018
PCTY
Apr 23, 2018 | 07:27 EDT
As reported earlier, RBC Capital analyst Ross MacMillan downgraded Paylocity to Sector Perform from Outperform, citing his expectations of a more competitive mid-market payroll space over the next 12-18 months. The analyst also notes that the company' operating margin expansion may be constrained amid changes in the company's sales productivity. MacMillan raises his price target Paylocity however to $56 from $51.
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