Paylocity Holding Corporation (NASDAQ:PCTY) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts give Paylocity a consensus rating of "Moderate Buy" from 21 firms (15 buys, 5 holds, 1 sell) with an average 1-year price target of $180.05, though several firms recently trimmed targets to the $146–$150 range.
• Paylocity beat recent quarterly estimates, reporting EPS $1.85 versus $1.57 expected and revenue of $416.13M (up 10.4% year-over-year).
• Shares opened at $106.14 with a 52-week range of $100.50–$201.97; the company has a market cap of $5.72B, a P/E near 25, and institutional investors own roughly 94.8% of the stock.

Shares of Paylocity Holding Corporation (NASDAQ:PCTY - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twenty-one ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $180.05.

PCTY has been the topic of several recent research reports. BTIG Research lowered their target price on Paylocity from $180.00 to $150.00 and set a "buy" rating on the stock in a report on Friday, February 6th. Mizuho reduced their price objective on Paylocity from $180.00 to $150.00 and set an "outperform" rating on the stock in a research report on Friday, February 6th. Cantor Fitzgerald reissued an "overweight" rating on shares of Paylocity in a research note on Thursday, January 29th. Barclays set a $146.00 target price on Paylocity in a report on Friday, February 6th. Finally, Jefferies Financial Group cut their target price on Paylocity from $180.00 to $150.00 and set a "buy" rating for the company in a research note on Friday, February 6th.

Paylocity Price Performance

Paylocity stock opened at $106.14 on Friday. The company has a fifty day simple moving average of $114.33 and a 200-day simple moving average of $137.73. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 3.07 and a beta of 0.57. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.07. Paylocity has a 52-week low of $100.50 and a 52-week high of $201.97.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The software maker reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.28. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. The firm had revenue of $416.13 million for the quarter, compared to analyst estimates of $408.37 million. During the same period in the previous year, the business posted $1.52 earnings per share. Paylocity's quarterly revenue was up 10.4% on a year-over-year basis. On average, equities analysts anticipate that Paylocity will post 4.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Paylocity

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. grew its stake in shares of Paylocity by 1.6% in the 3rd quarter. Federated Hermes Inc. now owns 4,848 shares of the software maker's stock valued at $772,000 after buying an additional 78 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Paylocity by 2.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,313 shares of the software maker's stock valued at $528,000 after buying an additional 81 shares during the period. MGO One Seven LLC raised its position in shares of Paylocity by 4.7% during the 3rd quarter. MGO One Seven LLC now owns 2,010 shares of the software maker's stock valued at $320,000 after buying an additional 90 shares during the period. Securian Asset Management Inc. lifted its holdings in Paylocity by 3.1% in the third quarter. Securian Asset Management Inc. now owns 3,355 shares of the software maker's stock valued at $534,000 after acquiring an additional 100 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Paylocity by 35.0% in the second quarter. Smartleaf Asset Management LLC now owns 428 shares of the software maker's stock worth $77,000 after acquiring an additional 111 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Company Profile

Paylocity NASDAQ: PCTY is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company's integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.

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