Paylocity (PCTY) stock price has fallen roughly 15% from its 52-week high, mostly due to multiple adjustments. Despite the drop in share price, I believe that Paylocity is growing well with some switching costs. At $96, however, it is overvalued by roughly 32% based on my base-case assumptions. Nonetheless, I provide potential investors with the rough estimates needed for Paylocity to be a good investment at the current price.
Source: Google
Paylocity has grown profitably over the years
Paylocity focuses on providing human capital management solutions for smaller companies with 20 to 1,000 employees. Its