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Fly News Breaks for May 3, 2019
PCTY
May 3, 2019 | 09:03 EDT
Craig-Hallum analyst Jeff Van Rhee raised his price target for Paylocity to $97 from $78 and maintained a Hold rating, saying the company reported another "strong" quarter with a "mixed" outlook. The business has been executing well, Van Rhee tells investors, adding that he continues to see strength in the payroll/HR/HCM space, but awaits a better entry point as shares currently trade at 9.4x FY20 revenue.
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