Paylocity Gains As Cowen Reiterates Its Outperform Rating By Investing.com

By Dhirendra Tripathi

Investing.com – Paylocity (NASDAQ:PCTY) was up close to 2% in Monday’s trading  after a Cowen analyst reiterated his ‘outperform’ rating with a $214 target for the stock.

Bryan Bergin’s target for the stock translates into an over 16% upside from its current level of $184.

According to the analyst, Paylocity is an attractive growth investment with robust fundamentals that are strengthening in tandem with the economic reopening.

Paylocity is a leading provider of payroll and human capital management software solutions. Its product suite delivers a unified platform for professionals to make decisions in the areas of benefits, core HR, payroll, talent, and workforce management.

Bergin expects Paylocity to move higher as its growth reaccelerates with vendor switching normalizing and headwinds to employment subsiding.