Список проголосовавших за комментарий " <table class="BriefingDataTable" border="0" cellspacing="0" cellpadding="0"><tr> <td class="tickerColumn"> </td> <td class="articleColumn">Paylocity target lowered to $40 at Needham — 2Q beats; ACA overhang remains but core business healthy (29.92)Needham lowers their PCTY tgt to $40 from $58 after reporting a very good 2Q, with solid rev out-performance from recurring revs and better than expected margin leverage with its $0.08 EPS out-performance. Although the future of ACA and the revenue associated with compliance remain a near-term headwind for PCTY, a deeper dive into co's results show a strong core business ( +33% Y/Y FY17E rev growth) and a compelling valuation at 4.1x EV/FY18 total revs or 4.3x EV/FY recurring revs for a company expected have double digit EBITDA margins and high 20% rev growth in FY18. New modules continue to enhance the PCTY's product portfolio and firm expects can drive consistent ARPU growth during the next several years as highlighted by the strong initial uptake in co's new Recruiting module; Buy.</td> </tr></table>"