Paylocity (NASDAQ:PCTY) Price Target Cut to $170.00 by Analysts at Citizens Jmp

Paylocity (NASDAQ:PCTY) had its target price reduced by Citizens Jmp from $245.00 to $170.00 in a research report report published on Friday morning,Benzinga reports. Citizens Jmp currently has a market outperform rating on the software maker’s stock.

Other equities analysts also recently issued research reports about the company. UBS Group dropped their price objective on Paylocity from $150.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday. Mizuho dropped their price target on Paylocity from $180.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday. BMO Capital Markets decreased their price objective on Paylocity from $185.00 to $150.00 and set an “outperform” rating for the company in a report on Friday. KeyCorp lowered their price objective on Paylocity from $225.00 to $190.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Guggenheim upgraded shares of Paylocity from a “neutral” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Monday, November 10th. Sixteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $183.14.

Paylocity Trading Down 7.2%

Shares of PCTY opened at $117.85 on Friday. The stock has a 50 day moving average of $145.27 and a 200 day moving average of $156.88. The company has a market capitalization 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 12 month low of $113.70 and a 12 month high of $223.80.

Paylocity (NASDAQ:PCTY) last posted its quarterly 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. The company had revenue of $416.13 million during the quarter, compared to analyst estimates of $408.37 million. Paylocity had a net margin of 14.19% and a return on equity of 23.03%. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.52 earnings per share. As a group, equities research analysts predict that Paylocity will post 4.36 earnings per share for the current year.

Insider Buying and Selling

In other Paylocity news, CFO Ryan Glenn sold 1,737 shares of the firm’s stock in a transaction dated 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 $11,093,945.85. This trade represents a 2.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 19.40% of the stock is currently owned by insiders.

Institutional Trading of Paylocity

Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its stake in shares of Paylocity by 89.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,224 shares of the software maker’s stock valued at $187,000 after purchasing an additional 578 shares in the last quarter. Legato Capital Management LLC purchased a new stake in Paylocity during the fourth quarter valued at about $331,000. Global Retirement Partners LLC grew its stake in shares of Paylocity by 3,063.2% during the fourth quarter. Global Retirement Partners LLC now owns 601 shares of the software maker’s stock valued at $92,000 after buying an additional 582 shares during the last quarter. Leonteq Securities AG purchased a new position in shares of Paylocity in the fourth quarter worth about $45,000. Finally, IFP Advisors Inc increased its holdings in shares of Paylocity by 95.2% in the fourth quarter. IFP Advisors Inc now owns 404 shares of the software maker’s stock worth $62,000 after buying an additional 197 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity News Summary

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.