Paylocity (NASDAQ:PCTY) Sets New 12-Month Low - What's Next?

Key Points

• Paylocity hit a new 52‑week low — shares traded as low as $98.69 and last around $95.79, down roughly 4.3% on the session.
• Analysts have cut price targets (BTIG, UBS, Jefferies, Citizens Jmp among others), but the consensus remains a Moderate Buy with a mean target of $180.05, far above the current price.
• Q4 results beat expectations: EPS $1.85 vs. $1.57 expected and revenue $416.1M (up 10.4% YoY), with strong profitability (ROE 23.4%, net margin 14.2%).

Paylocity Holding Corporation (NASDAQ:PCTY - Get Free Report)'s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $98.69 and last traded at $95.7880, with a volume of 29316 shares changing hands. The stock had previously closed at $102.42.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. BTIG Research lowered their price objective on Paylocity from $180.00 to $150.00 and set a "buy" rating for the company in a research report on Friday, February 6th. UBS Group lowered their price objective on Paylocity from $150.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, February 6th. Citizens Jmp lowered their price objective on Paylocity from $245.00 to $170.00 and set a "market outperform" rating for the company in a research report on Friday, February 6th. Wall Street Zen downgraded Paylocity from a "buy" rating to a "hold" rating in a research report on Sunday, February 22nd. Finally, Jefferies Financial Group reduced 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. Fifteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $180.05.

Paylocity Stock Down 4.3%

The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 22.97, 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. The stock has a fifty day moving average of $112.08 and a two-hundred day moving average of $136.28.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its earnings results on Thursday, February 5th. The software maker reported $1.85 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.28. Paylocity had a return on equity of 23.44% and a net margin of 14.19%.The firm had revenue of $416.13 million for the quarter, compared to analysts' expectations of $408.37 million. During the same quarter last year, the firm earned $1.52 earnings per share. The firm's revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, analysts predict that Paylocity Holding Corporation will post 4.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Flagship Harbor Advisors LLC acquired a new position in shares of Paylocity during the fourth quarter worth about $27,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Paylocity by 363.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker's stock worth $29,000 after purchasing an additional 149 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Paylocity during the fourth quarter worth about $30,000. Advisory Services Network LLC acquired a new position in shares of Paylocity during the third quarter worth about $38,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Paylocity during the third quarter worth about $41,000. Institutional investors and hedge funds own 94.76% of the company's stock.

About Paylocity

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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