Paylocity Holding Corporation (NASDAQ:PCTY) Receives $221.38 Average Target Price from Brokerages

Shares of Paylocity Holding Corporation (NASDAQ:PCTY) have been given a consensus recommendation of “Moderate Buy” by the twenty-one ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, thirteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $209.4706.

PCTY has been the topic of several research analyst reports. BMO Capital Markets lowered their target price on Paylocity from $200.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday. 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 objective on shares of Paylocity in a research note on Wednesday. TD Cowen decreased their target price on shares of Paylocity from $192.00 to $172.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Citizens Jmp lowered their price target on shares of Paylocity from $270.00 to $245.00 and set a “market outperform” rating on the stock in a report on Wednesday.

Institutional Investors Weigh In On Paylocity

A number of hedge funds and other institutional investors have recently made changes to their positions in PCTY. Voya Investment Management LLC raised its position in shares of Paylocity by 62.5% during the first quarter. Voya Investment Management LLC now owns 44,516 shares of the software maker’s stock valued at $8,340,000 after buying an additional 17,118 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Paylocity during the first quarter valued at about $359,000. Millennium Management LLC increased its stake in Paylocity by 86.8% during the first quarter. Millennium Management LLC now owns 211,995 shares of the software maker’s stock valued at $39,715,000 after acquiring an additional 98,520 shares during the period. Conestoga Capital Advisors LLC raised its holdings 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 acquiring an additional 17,665 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. bought a new stake in shares of Paylocity in the 2nd quarter worth approximately $2,283,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Paylocity Stock Up 2.5%

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

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Tuesday, November 4th. The software maker reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 22.07% and a net margin of 13.75%.Paylocity’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.66 earnings per share. Paylocity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. Equities research analysts anticipate that Paylocity will post 4.36 earnings per share for the current year.

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.