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Fly News Breaks for February 5, 2020
PCTY
Feb 5, 2020 | 09:47 EDT
SunTrust analyst Terry Tillman raised his price target on Paylocity to $162 and kept his Buy rating after its Q2 earnings beat and recurring revenue acceleration seen in the quarter. The analyst notes that the company's attractive recurring revenue upside potential justifies its premium valuation of 14-times expected 2020 sales relative to its peer group with a 20%-30% growth rate.
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