Citizens Jmp Cuts Paylocity (NASDAQ:PCTY) Price Target to $170.00

Paylocity (NASDAQ:PCTY) had its price objective cut by Citizens Jmp from $245.00 to $170.00 in a report released on Friday,Benzinga reports. They currently have a market outperform rating on the software maker’s stock.

Other analysts also recently issued research reports about the company. Jefferies Financial Group decreased their target price on Paylocity from $180.00 to $150.00 and set a “buy” rating for the company in a research note on Friday. Stifel Nicolaus reduced their price objective on Paylocity from $188.00 to $165.00 and set a “buy” rating for the company in a research report on Friday. BTIG Research lowered their price objective on shares of Paylocity from $180.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday. JMP Securities set a $245.00 target price on shares of Paylocity in a research note on Wednesday, November 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Paylocity in a report on Thursday, January 29th. Sixteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Paylocity presently has an average rating of “Moderate Buy” and an average target price of $183.14.

Paylocity Stock Performance

NASDAQ:PCTY opened at $117.85 on Friday. The firm has a market capitalization of $6.41 billion, a PE ratio of 27.73, a PEG ratio of 3.47 and a beta of 0.54. Paylocity has a 1 year low of $113.70 and a 1 year high of $223.80. The company has a current ratio of 1.04, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. The firm’s fifty day simple moving average is $145.27 and its 200 day simple moving average is $156.48.

Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, February 5th. The software maker reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.28. The firm 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 23.44%. The business’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.52 EPS. On average, sell-side analysts anticipate that Paylocity will post 4.36 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Ryan Glenn sold 1,737 shares of the stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $143.65, for a total value of $249,520.05. Following the completion of the transaction, the chief financial officer owned 77,229 shares in the company, valued at approximately $11,093,945.85. This represents a 2.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 19.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. bought a new position in Paylocity during the third quarter worth about $104,657,000. AQR Capital Management LLC raised its holdings in shares of Paylocity by 500.6% in the 2nd quarter. AQR Capital Management LLC now owns 449,935 shares of the software maker’s stock worth $81,438,000 after buying an additional 375,023 shares in the last quarter. Millennium Management LLC lifted its position in shares of Paylocity by 97.7% during the 3rd quarter. Millennium Management LLC now owns 748,803 shares of the software maker’s stock worth $119,262,000 after buying an additional 369,975 shares during the period. Assenagon Asset Management S.A. boosted its stake in Paylocity by 311.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 432,070 shares of the software maker’s stock valued at $65,891,000 after buying an additional 327,082 shares in the last quarter. Finally, Two Sigma Investments LP grew its position in Paylocity by 114.6% in the third quarter. Two Sigma Investments LP now owns 516,798 shares of the software maker’s stock valued at $82,310,000 after acquiring an additional 275,959 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

More Paylocity News

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

Paylocity Company Profile

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.