Bank of America reinstated coverage on Paylocity Holding Corp with a "buy" rating and a $175 price target, expecting the company to grow faster than the market anticipates. The broker highlights Paylocity's expansion into finance, IT, services, and AI as key drivers for accelerating growth beyond its core payroll business. Revenue growth is forecasted at 10% for fiscal year 2027, surpassing market expectations of 7%. Additional upside could come from cross-selling, new products, market share gains, and higher interest rates. The firm also expects improvements in free cash flow margins and values Paylocity at a premium compared to peers, supported by strong R&D investment and AI integration potential. Risks include pricing pressure, interest rate cuts, and execution challenges.
Paylocity expansion news offers context for technology sector trends. For readers following the tech sector, here is Pluang's market snapshot as of Sep 30, 2026 01:01 WIB: Of 150 technology stocks, 69 rose and 79 fell. Oracle Corporation (ORCL) rose 3.97% to USD 137.90 with 75% sell orders. Marvell Technology Inc (MRVL) increased 3.83% to USD 261.55 with balanced buy-sell activity. Atlassian Corporation PLC (TEAM) dropped 3.81% to USD 171.74 but had 100% buy orders and a typical hold time of 64 days on Pluang.
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