Zacks Research Upgrades Paylocity (NASDAQ:PCTY) to Hold

Paylocity (NASDAQ:PCTY) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts have also commented on the stock. Raymond James Financial set a $220.00 price objective on shares of Paylocity and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Cantor Fitzgerald set a $190.00 price target on Paylocity in a research note on Wednesday, November 5th. JMP Securities set a $245.00 price objective on Paylocity in a research report on Wednesday, November 5th. Needham & Company LLC reissued a “buy” rating and set a $250.00 price objective on shares of Paylocity in a report on Friday, July 18th. Finally, BMO Capital Markets cut their target price on Paylocity from $200.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Paylocity currently has a consensus rating of “Moderate Buy” and an average target price of $207.83.

Paylocity Stock Up 4.6%

Shares of PCTY stock opened at $148.88 on Monday. Paylocity has a 12 month low of $135.46 and a 12 month high of $223.80. The firm has a market cap of $8.10 billion, a PE ratio of 37.31, a price-to-earnings-growth ratio of 4.27 and a beta of 0.58. The stock has a 50 day moving average of $156.46 and a 200-day moving average of $175.07.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Tuesday, November 4th. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. The business had revenue of $408.17 million for the quarter, compared to analyst estimates of $399.53 million. Paylocity had a net margin of 13.75% and a return on equity of 22.07%. Paylocity’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.66 earnings per share. Paylocity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. As a group, equities analysts predict that Paylocity will post 4.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PCTY. Envestnet Asset Management Inc. boosted its stake in shares of Paylocity by 4.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 136,866 shares of the software maker’s stock valued at $25,641,000 after purchasing an additional 5,919 shares in the last quarter. Cerity Partners LLC lifted its holdings in Paylocity by 11.2% during the 1st quarter. Cerity Partners LLC now owns 17,492 shares of the software maker’s stock valued at $3,277,000 after purchasing an additional 1,765 shares during the last quarter. CWM LLC boosted its position in Paylocity by 208.4% in the first quarter. CWM LLC now owns 1,906 shares of the software maker’s stock valued at $357,000 after buying an additional 1,288 shares in the last quarter. Securian Asset Management Inc. grew its stake in Paylocity by 3.1% during the first quarter. Securian Asset Management Inc. now owns 3,355 shares of the software maker’s stock worth $629,000 after buying an additional 100 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Paylocity by 12.6% during the first quarter. Victory Capital Management Inc. now owns 177,979 shares of the software maker’s stock worth $33,343,000 after buying an additional 19,966 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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.