Stephens Cuts Paylocity (NASDAQ:PCTY) Price Target to $170.00

Paylocity (NASDAQ:PCTY) had its target price lowered by Stephens from $200.00 to $170.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the software maker’s stock.

PCTY has been the topic of several other research reports. Guggenheim initiated coverage on shares of Paylocity in a report on Thursday, September 25th. They set a “neutral” rating on the stock. Cowen restated a “buy” rating on shares of Paylocity in a research note on Monday, October 6th. JMP Securities set a $245.00 price objective on Paylocity in a research report on Wednesday. Citigroup decreased their price objective on Paylocity from $225.00 to $218.00 and set a “buy” rating on the stock in a report on Monday, July 21st. Finally, Jefferies Financial Group cut their target price on Paylocity from $225.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $209.47.

Paylocity Stock Up 2.5%

Shares of NASDAQ PCTY opened at $141.88 on Wednesday. Paylocity has a 12 month low of $135.46 and a 12 month high of $223.80. The company has a market cap of $7.72 billion, a P/E ratio of 35.56, a P/E/G ratio of 4.17 and a beta of 0.58. The business’s 50 day moving average is $157.71 and its two-hundred day moving average is $175.80.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Tuesday, November 4th. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.23. The business had revenue of $408.17 million for the quarter, compared to the consensus estimate of $399.53 million. Paylocity had a net margin of 13.75% and a return on equity of 22.07%. Paylocity’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the company posted $1.66 earnings per share. Paylocity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. Sell-side analysts expect that Paylocity will post 4.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PCTY. Voya Investment Management LLC boosted its holdings in shares of Paylocity by 62.5% in the 1st quarter. Voya Investment Management LLC now owns 44,516 shares of the software maker’s stock worth $8,340,000 after acquiring an additional 17,118 shares in the last quarter. Millennium Management LLC increased its holdings in Paylocity by 86.8% during the 1st quarter. Millennium Management LLC now owns 211,995 shares of the software maker’s stock valued at $39,715,000 after purchasing an additional 98,520 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in Paylocity by 16.5% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 124,988 shares of the software maker’s stock valued at $22,647,000 after purchasing an additional 17,665 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new position in Paylocity in the second quarter worth $2,283,000. Finally, CWM LLC grew its holdings in shares of Paylocity by 257.9% during the second quarter. CWM LLC now owns 6,822 shares of the software maker’s stock worth $1,236,000 after purchasing an additional 4,916 shares during the last quarter. 94.76% of the stock is owned by institutional investors.

About Paylocity

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.