Paylocity (NASDAQ:PCTY) Upgraded at Zacks Research

Zacks Research upgraded shares of Paylocity (NASDAQ:PCTY) from a strong sell rating to a hold rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. Raymond James Financial set a $220.00 price target on Paylocity and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Needham & Company LLC restated a “buy” rating and set a $250.00 price target on shares of Paylocity in a report on Friday, July 18th. KeyCorp increased their price target on Paylocity from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th. Cantor Fitzgerald raised Paylocity to a “strong-buy” rating in a research report on Thursday. Finally, Stephens initiated coverage on Paylocity in a research report on Monday, July 21st. They set an “equal weight” rating and a $200.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $222.71.

Paylocity Stock Performance

Shares of PCTY stock opened at $169.68 on Thursday. The business’s 50 day simple moving average is $179.79 and its 200 day simple moving average is $185.45. Paylocity has a one year low of $154.91 and a one year high of $223.80. The stock has a market capitalization of $9.36 billion, a PE ratio of 42.31, a PEG ratio of 3.27 and a beta of 0.51. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 1.14.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Tuesday, August 5th. The software maker reported $1.56 EPS for the quarter, beating the consensus estimate of $1.38 by $0.18. The business had revenue of $400.74 million for the quarter, compared to analysts’ expectations of $388.25 million. Paylocity had a return on equity of 22.08% and a net margin of 14.24%.The firm’s revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.48 earnings per share. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. As a group, research analysts forecast that Paylocity will post 4.36 earnings per share for the current year.

Insider Activity

In other news, SVP Andrew Cappotelli sold 1,717 shares of the firm’s stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $176.74, for a total transaction of $303,462.58. Following the completion of the sale, the senior vice president directly owned 11,953 shares of the company’s stock, valued at $2,112,573.22. This trade represents a 12.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 21.91% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Paylocity

Large investors have recently made changes to their positions in the business. Associated Banc Corp boosted its position in shares of Paylocity by 4.5% during the first quarter. Associated Banc Corp now owns 1,207 shares of the software maker’s stock valued at $226,000 after buying an additional 52 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Paylocity by 0.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 6,148 shares of the software maker’s stock worth $1,097,000 after purchasing an additional 54 shares during the last quarter. Cresset Asset Management LLC raised its stake in shares of Paylocity by 2.4% in the first quarter. Cresset Asset Management LLC now owns 2,613 shares of the software maker’s stock worth $490,000 after buying an additional 62 shares during the period. Verdence Capital Advisors LLC raised its stake in shares of Paylocity by 5.7% in the second quarter. Verdence Capital Advisors LLC now owns 1,205 shares of the software maker’s stock worth $218,000 after buying an additional 65 shares during the period. Finally, ProShare Advisors LLC raised its stake in shares of Paylocity by 3.3% in the second quarter. ProShare Advisors LLC now owns 2,055 shares of the software maker’s stock worth $372,000 after buying an additional 65 shares during the period. 94.76% of the stock is owned by hedge funds and other 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.