Paylocity (NASDAQ:PCTY) Sets New 12-Month Low – What’s Next?

Shares of Paylocity Holding Corporation (NASDAQ:PCTY) hit a new 52-week low during trading on Monday . The stock traded as low as $101.01 and last traded at $101.25, with a volume of 31825 shares traded. The stock had previously closed at $105.66.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. TD Cowen restated a “buy” rating on shares of Paylocity in a research note on Friday, February 6th. Citizens Jmp reduced their price objective on Paylocity from $245.00 to $170.00 and set a “market outperform” rating for the company in a report on Friday, February 6th. Robert W. Baird set a $220.00 target price on Paylocity in a research note on Friday, February 6th. Citigroup reaffirmed an “outperform” rating on shares of Paylocity in a research report on Friday, February 6th. Finally, UBS Group decreased their price objective on Paylocity from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, February 6th. Fifteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $180.05.

Paylocity Price Performance

The company has a 50-day moving average of $137.53 and a 200-day moving average of $151.03. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 3.04 and a beta of 0.54.

Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, February 5th. The software maker reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.28. Paylocity had a return on equity of 23.44% and a net margin of 14.19%.The business had revenue of $416.13 million for the quarter, compared to analyst estimates of $408.37 million. During the same quarter in the previous year, the company posted $1.52 earnings per share. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, equities research analysts predict that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Flagship Harbor Advisors LLC acquired a new position in Paylocity during the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Paylocity by 363.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker’s stock valued at $29,000 after buying an additional 149 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Paylocity during the fourth quarter worth $30,000. Advisory Services Network LLC purchased a new position in Paylocity in the third quarter worth $38,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Paylocity in the third quarter valued at $41,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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.