Citizens Jmp Cuts Paylocity (NASDAQ:PCTY) Price Target to $245.00

Paylocity (NASDAQ:PCTY) had its price objective cut by Citizens Jmp from $270.00 to $245.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a market outperform rating on the software maker’s stock.

PCTY has been the topic of a number of other reports. Raymond James Financial set a $220.00 target price on Paylocity and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Stephens began coverage on Paylocity in a research report on Monday, July 21st. They issued an “equal weight” rating and a $200.00 price target for the company. Jefferies Financial Group decreased their price objective on Paylocity from $235.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $250.00 price objective on shares of Paylocity in a research report on Friday, July 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Paylocity in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Paylocity has an average rating of “Moderate Buy” and an average price target of $209.47.

Paylocity Trading Up 2.5%

PCTY opened at $141.88 on Wednesday. The company’s 50 day moving average is $157.71 and its 200 day moving average is $175.80. The company has a market cap of $7.72 billion, a price-to-earnings ratio of 35.56, a PEG ratio of 4.17 and a beta of 0.58. Paylocity has a 12-month low of $135.46 and a 12-month high of $223.80.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Tuesday, November 4th. The software maker reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.23. The business had revenue of $408.17 million during the quarter, compared to analysts’ expectations of $399.53 million. Paylocity had a net margin of 13.75% and a return on equity of 22.07%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.66 earnings per share. Paylocity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. As a group, analysts predict that Paylocity will post 4.36 EPS for the current fiscal year.

Institutional Trading of Paylocity

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCTY. Vanguard Group Inc. boosted its stake in Paylocity by 7.0% in the 1st quarter. Vanguard Group Inc. now owns 4,312,832 shares of the software maker’s stock worth $807,966,000 after purchasing an additional 283,430 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Paylocity by 3.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,287,514 shares of the software maker’s stock worth $803,224,000 after buying an additional 141,705 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Paylocity by 0.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,987,037 shares of the software maker’s stock worth $746,932,000 after buying an additional 13,027 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Paylocity by 22.1% during the third quarter. JPMorgan Chase & Co. now owns 555,393 shares of the software maker’s stock worth $88,459,000 after acquiring an additional 100,400 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Paylocity by 4.0% during the second quarter. American Century Companies Inc. now owns 534,843 shares of the software maker’s stock valued at $96,909,000 after acquiring an additional 20,649 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

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.