Paylocity (NASDAQ:PCTY) Stock Price Target Raised at Barclays

Paylocity (NASDAQ:PCTY) had its price objective upped by Barclays from $162.00 to $176.00 in a research note published on Friday morning,Benzinga reports. They currently have an equal weight rating on the software maker’s stock.

Other analysts also recently issued reports about the stock. KeyCorp upped their price objective on shares of Paylocity from $178.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. Robert W. Baird set a $201.00 target price on shares of Paylocity in a report on Wednesday, August 5th. Guggenheim boosted their target price on shares of Paylocity from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, October 23rd. Zacks Research lowered shares of Paylocity from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, UBS Group set a $175.00 target price on Paylocity in a report on Tuesday, September 29th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $177.47.

Paylocity Stock Performance

Shares of NASDAQ PCTY traded up $3.58 during mid-day trading on Friday, hitting $173.15. The stock had a trading volume of 1,225,928 shares, compared to its average volume of 596,017. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09. The company has a 50 day moving average of $156.11 and a two-hundred day moving average of $127.44. Paylocity has a twelve month low of $92.99 and a twelve month high of $180.88. The firm has a market cap of $9.03 billion, a PE ratio of 33.56, a PEG ratio of 2.06 and a beta of 0.43.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, November 5th. The software maker reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.16. The company had revenue of $451.67 million during the quarter, compared to analysts’ expectations of $443.12 million. Paylocity had a return on equity of 27.02% and a net margin of 15.23%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.75 EPS. Research analysts predict that Paylocity will post 6.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other Paylocity news, Chairman Steven Beauchamp sold 15,000 shares of the company’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $165.22, for a total value of $2,478,300.00. Following the completion of the transaction, the chairman owned 1,243,389 shares in the company, valued at $205,432,730.58. This represents a 1.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven I. Sarowitz sold 8,900 shares of the firm’s stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $171.31, for a total value of $1,524,659.00. Following the transaction, the director owned 4,354,869 shares in the company, valued at $746,032,608.39. This represents a 0.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 151,704 shares of company stock valued at $25,137,741 over the last ninety days. Insiders own 19.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Diversified Trust Co boosted its position in Paylocity by 0.8% during the third quarter. Diversified Trust Co now owns 9,412 shares of the software maker’s stock worth $1,342,000 after purchasing an additional 78 shares in the last quarter. Allworth Financial LP lifted its stake in Paylocity by 2.9% in the 3rd quarter. Allworth Financial LP now owns 3,328 shares of the software maker’s stock valued at $474,000 after buying an additional 93 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Paylocity by 8.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 88,051 shares of the software maker’s stock valued at $12,547,000 after buying an additional 6,566 shares in the last quarter. R Squared Ltd grew its holdings in Paylocity by 22.5% during the 3rd quarter. R Squared Ltd now owns 3,594 shares of the software maker’s stock valued at $512,000 after buying an additional 660 shares during the last quarter. Finally, Maryland State Retirement & Pension System grew its holdings in Paylocity by 42.9% during the 3rd quarter. Maryland State Retirement & Pension System now owns 2,897 shares of the software maker’s stock valued at $413,000 after buying an additional 869 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Key Paylocity News

Here are the key news stories impacting Paylocity this week:

• Positive Sentiment: For Q1 fiscal 2027, Paylocity reported adjusted earnings of $2.09 per share, versus the $1.93 consensus, and revenue of $451.7 million, above the $443.1 million estimate. Revenue increased 10.7% year over year, while recurring and other revenue rose 12%. The company’s full-year outlook slightly exceeded expectations. Paylocity Announces First Quarter Fiscal 2027 Financial Results
• Positive Sentiment: Analyst target increases added to the upbeat tone: Citizens JMP raised its target to $200 and kept a market outperform rating; Truist raised its target to $200 and maintained Buy; and BTIG lifted its target to $210 and reiterated Buy. Citizens JMP recommendations Truist target change BTIG Research recommendations
• Positive Sentiment: Paylocity repurchased $152.5 million of shares during the quarter, continuing a buyback program that may support per-share results. It also completed the acquisition of Aidora to expand AI-powered leave-management capabilities. Quarterly results release
• Neutral Sentiment: Barclays raised its price target to $176 but maintained an Equal Weight rating, signaling a more cautious view than the other target revisions. Barclays recommendations

About Paylocity

Paylocity Holding Corporation (NASDAQ:PCTY) provides cloud-based human capital management (HCM) and payroll software for organizations. Its platform is designed to help employers manage payroll, human resources, employee benefits, talent acquisition, onboarding, performance, learning, and workforce administration through an integrated system.

The company also offers tools for time and labor management, scheduling, employee communications, engagement, surveys, expense management, and other workplace activities.