Paylocity (NASDAQ:PCTY) Given New $180.00 Price Target at Truist Financial

Paylocity (NASDAQ:PCTY) had its price target reduced by Truist Financial from $240.00 to $180.00 in a research report released on Friday morning,Benzinga reports. Truist Financial currently has a buy rating on the software maker’s stock.

Several other equities analysts have also recently commented on PCTY. JMP Securities set a $245.00 target price on Paylocity in a research note on Wednesday, November 5th. Mizuho reduced their price objective on shares of Paylocity from $180.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday. Stifel Nicolaus decreased their price objective on shares of Paylocity from $188.00 to $165.00 and set a “buy” rating for the company in a report on Friday. Weiss Ratings downgraded shares of Paylocity from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, January 27th. Finally, Citizens Jmp cut their target price on shares of Paylocity from $245.00 to $170.00 and set a “market outperform” rating on the stock in a research note on Friday. Sixteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $183.14.

Paylocity Trading Down 7.2%

PCTY opened at $117.85 on Friday. The company has a fifty day simple moving average of $145.27 and a 200 day simple moving average of $156.88. The firm has a market cap of $6.41 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 3.74 and a beta of 0.54. Paylocity has a twelve month low of $113.70 and a twelve month high of $223.80.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, February 5th. The software maker reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.28. Paylocity had a return on equity of 23.03% and a net margin of 14.19%.The company had revenue of $416.13 million during the quarter, compared to the consensus estimate of $408.37 million. During the same period last year, the firm earned $1.52 earnings per share. The company’s revenue was up 10.4% on a year-over-year basis. On average, analysts forecast that Paylocity will post 4.36 earnings per share for the current fiscal year.

Insider Activity at Paylocity

In related news, CFO Ryan Glenn sold 1,737 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $143.65, for a total value of $249,520.05. Following the sale, the chief financial officer owned 77,229 shares of the company’s stock, valued at approximately $11,093,945.85. This trade represents a 2.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 19.40% of the company’s stock.

Institutional Investors Weigh In On Paylocity

A number of hedge funds have recently added to or reduced their stakes in PCTY. Millennium Management LLC boosted its holdings in shares of Paylocity by 97.7% in the third quarter. Millennium Management LLC now owns 748,803 shares of the software maker’s stock valued at $119,262,000 after acquiring an additional 369,975 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in Paylocity during the 3rd quarter valued at $104,657,000. Dimensional Fund Advisors LP increased its position in shares of Paylocity by 14.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 616,747 shares of the software maker’s stock valued at $98,237,000 after purchasing an additional 76,603 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Paylocity by 22.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 555,393 shares of the software maker’s stock worth $88,459,000 after buying an additional 100,400 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in shares of Paylocity by 61.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 552,313 shares of the software maker’s stock worth $87,967,000 after buying an additional 209,897 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

Paylocity News Roundup

Here are the key news stories impacting Paylocity this week:

• Positive Sentiment: Q2 beat — Paylocity reported EPS of $1.85 vs. $1.57 expected and total revenue of $416.1M (up 10.4% YoY), showing solid recurring-revenue growth that supports long-term profitability. GlobeNewswire Q2 Press Release
• Positive Sentiment: Strong cash flow and buybacks — trailing‑12‑month operating cash flow and free‑cash‑flow margins remain robust; company repurchased $100M (~690k shares) in Q2 and ~$600M (~3.7M shares) since May 2024, supporting EPS and shareholder returns. GlobeNewswire Q2 Press Release
• Positive Sentiment: Product and distribution drivers — management highlighted product expansion and growth through the broker channel as sources of upside to bookings and longer‑term revenue. MSN deep dive
• Neutral Sentiment: Earnings materials available — full slide deck and call transcript provide more detail on client metrics and product road map for investors who want to dig into assumptions. MarketBeat earnings packet Seeking Alpha transcript
• Negative Sentiment: Guidance disappointed — management’s FY26 and Q3 revenue guidance came in below consensus (Q3 guidance midpoint well under street estimates), which is the main near‑term catalyst behind the selloff as it suggests slower near‑term top‑line momentum. MarketBeat guidance summary
• Negative Sentiment: Analyst price‑target cuts — multiple firms (Citigroup, Truist, Citizens JMP, Mizuho, BTIG, BMO) reduced targets today (ratings largely remain buy/outperform), trimming upside and adding near‑term selling pressure despite retained positive views. Benzinga coverage

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.