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Fly News Breaks for February 5, 2020
PCTY
Feb 5, 2020 | 05:55 EDT
In a post-earnings research note titled "Groundhog Day...In A Very Good Way," Stifel analyst Brad Reback raised his price target for Paylocity to $155 from $125. The company delivered another "healthy" quarter with all key financial metrics at least meeting guidance and consensus expectations, Reback writes. The analyst continues to believe that Paylocity has a number of growth drivers it can leverage to sustain 20%-plus recurring revenue growth in the coming years. He remains a buyer of the stock with a Buy rating.
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