Paylocity (NASDAQ:PCTY) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Paylocity's stock rating from "strong sell" to "hold," indicating a more favorable outlook for the company.
• Paylocity reported a quarterly earnings per share of $1.56, surpassing analysts' estimates and reflecting a 12.2% increase in revenue year-over-year.
• The current consensus rating for Paylocity is "Moderate Buy" with an average target price of $222.71, based on multiple ratings from various analysts.

Paylocity (NASDAQ:PCTY - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Thursday, September 11th,Zacks.com reports.

Other analysts have also issued reports about the stock. Stephens started coverage on shares of Paylocity in a report on Monday, July 21st. They set an "equal weight" rating and a $200.00 target price for the company. KeyCorp raised their price objective on shares of Paylocity from $220.00 to $225.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Jefferies Financial Group lowered their price objective on shares of Paylocity from $235.00 to $225.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. BMO Capital Markets boosted their price objective on shares of Paylocity from $226.00 to $230.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Finally, Barclays decreased their price objective on shares of Paylocity from $209.00 to $190.00 and set an "equal weight" rating for the company in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $221.59.

Paylocity Trading Down 0.1%

Shares of NASDAQ:PCTY traded down $0.19 on Thursday, reaching $165.19. 94,265 shares of the company traded hands, compared to its average volume of 485,740. The stock has a market capitalization of $9.11 billion, a P/E ratio of 41.22, a price-to-earnings-growth ratio of 3.16 and a beta of 0.51. Paylocity has a 52 week low of $159.70 and a 52 week high of $223.80. The business's 50-day simple moving average is $178.68 and its 200 day simple moving average is $184.82. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.13.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The software maker reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.18. The business had revenue of $400.74 million for the quarter, compared to analyst estimates of $388.25 million. Paylocity had a net margin of 14.24% and a return on equity of 22.08%. The company's revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.48 EPS. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. As a group, equities analysts anticipate that Paylocity will post 4.36 EPS for the current fiscal year.

Insider Activity

In related news, SVP Andrew Cappotelli sold 1,717 shares of the company's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $176.74, for a total value of $303,462.58. Following the completion of the transaction, the senior vice president owned 11,953 shares of the company's stock, valued at approximately $2,112,573.22. This represents a 12.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 21.91% of the stock is currently owned by insiders.

Institutional Trading of Paylocity

Several hedge funds have recently bought and sold shares of PCTY. TCTC Holdings LLC raised its position in shares of Paylocity by 115.9% during the 1st quarter. TCTC Holdings LLC now owns 149 shares of the software maker's stock valued at $28,000 after buying an additional 80 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of Paylocity during the 1st quarter valued at about $29,000. SBI Securities Co. Ltd. raised its position in shares of Paylocity by 47.4% during the 2nd quarter. SBI Securities Co. Ltd. now owns 252 shares of the software maker's stock valued at $46,000 after buying an additional 81 shares in the last quarter. Hughes Financial Services LLC purchased a new stake in shares of Paylocity during the 1st quarter valued at about $48,000. Finally, Employees Retirement System of Texas purchased a new stake in shares of Paylocity during the 2nd quarter valued at about $51,000. Hedge funds and other institutional investors own 94.76% of the company's stock.

Paylocity Company Profile

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.