KeyBanc analyst Jason Celino raised the firm’s price target on Paylocity (PCTY) to $220 from $210 and keeps an Overweight rating on the shares. The firm believes Paylocity has built in some added conservatism around workforce levels and business execution into its guidance. With trends appearing to be at least stabilize, KeyBanc expects Paylocity to post-Q2 results with upward bias above its revenue estimate of $367M and EBITDA estimate of $118.7M.
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