stockwatcher4u
11 years ago
Paylocity seems to be flying under the radar with not too many people paying much attention since the initial IPO. PCTY is a great company with a great first earning report that blew away expectations. This for a recent IPO is big-time, but everyone is keeping the excitement under wraps.
I believe that Paylocity could easily double from the current price of around $23 given the current evaluations and the price of its competitors like PayChecks and ADP. PCTY is making a substantial dent with their "in the cloud" business model.
As PCTY continues to take away market share from the more brick and mortar style competitors who are bogged down in there slow business model that is basically dying. I don't even see ADP and Paycheck adapting until they have lost so much business that they will be forced to.
It was hard to believe that PCTY's price dropped to the $15 range before their first earnings report, but at the current level of $23 it is just a matter of time before some news event or the next earnings report causes this stock to soar again.
My target expectations before the end of the year is $42. Those not on board now, will miss the train on this one. Consolidation currently taking place and barring no un-foreseen geo-political events I believe this is a good opportunity to accumulate shares.
-G