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Research analysts at Bank of America began coverage on shares of Paylocity Holding Corp (NASDAQ:PCTY) in a report released on Monday, AnalystRatingsNetwork reports. The firm set a “neutral” rating on the stock.

Shares of Paylocity Holding Corp (NASDAQ:PCTY) traded up 5.32% on Monday, hitting $19.80. The stock had a trading volume of 190,577 shares. Paylocity Holding Corp has a one year low of $18.28 and a one year high of $31.00. The stock’s 50-day moving average is $22.52 and its 200-day moving average is $22.52. The company’s market cap is $968.6 million.

Other equities research analysts have also recently issued reports about the stock. Analysts at Needham & Company LLC initiated coverage on shares of Paylocity Holding Corp in a research note on Monday. They set a “buy” rating and a $23.00 price target on the stock. Separately, analysts at JMP Securities initiated coverage on shares of Paylocity Holding Corp in a research note on Monday. They set an “outperform” rating and a $25.00 price target on the stock. Finally, analysts at BofA Merrill Lynch reiterated a “neutral” rating on shares of Paylocity Holding Corp in a research note on Monday. They now have a $20.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $24.00.

Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (NASDAQ:PCTY), software solutions for medium-sized organizations.

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