Truist Financial Cuts Paylocity (NASDAQ:PCTY) Price Target to $180.00

Paylocity (NASDAQ:PCTY) had its target price reduced by Truist Financial from $240.00 to $180.00 in a research note issued to investors on Friday,Benzinga reports. Truist Financial currently has a buy rating on the software maker’s stock.

Several other equities research analysts also recently issued reports on PCTY. Guggenheim upgraded shares of Paylocity from a “neutral” rating to a “buy” rating and set a $180.00 price objective for the company in a research note on Monday, November 10th. Jefferies Financial Group reduced their target price on shares of Paylocity from $180.00 to $150.00 and set a “buy” rating on the stock in a report on Friday. BTIG Research lowered their price target on Paylocity from $180.00 to $150.00 and set a “buy” rating for the company in a report on Friday. Cantor Fitzgerald reissued an “overweight” rating on shares of Paylocity in a research report on Thursday, January 29th. Finally, KeyCorp decreased their target price on Paylocity from $225.00 to $190.00 and set an “overweight” rating for the company in a research report on Friday. Sixteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Paylocity has an average rating of “Moderate Buy” and an average price target of $183.14.

Paylocity Stock Performance

Shares of NASDAQ:PCTY opened at $117.85 on Friday. The business has a 50-day moving average of $145.27 and a two-hundred day moving average of $156.48. The firm has a market capitalization of $6.41 billion, a PE ratio of 27.73, a P/E/G ratio of 3.47 and a beta of 0.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.04 and a quick ratio of 1.07. Paylocity has a 12 month low of $113.70 and a 12 month high of $223.80.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data 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 business had revenue of $416.13 million for the quarter, compared to analyst estimates of $408.37 million. Paylocity had a return on equity of 23.44% and a net margin of 14.19%.The company’s revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.52 EPS. As a group, research analysts forecast 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 that occurred on Wednesday, November 19th. The stock was sold at an average price of $143.65, for a total transaction of $249,520.05. Following the completion of the sale, the chief financial officer owned 77,229 shares in the company, valued at $11,093,945.85. This trade represents a 2.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 19.40% of the company’s stock.

Institutional Trading of Paylocity

A number of hedge funds and other institutional investors have recently made changes to their positions in PCTY. Millennium Management LLC raised its stake in shares of Paylocity by 97.7% in the 3rd quarter. Millennium Management LLC now owns 748,803 shares of the software maker’s stock valued at $119,262,000 after purchasing an additional 369,975 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in Paylocity in the third quarter worth about $104,657,000. Dimensional Fund Advisors LP increased its holdings in Paylocity by 14.2% in the third quarter. Dimensional Fund Advisors LP now owns 616,747 shares of the software maker’s stock valued at $98,237,000 after buying an additional 76,603 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Paylocity by 22.1% during the third quarter. JPMorgan Chase & Co. now owns 555,393 shares of the software maker’s stock valued at $88,459,000 after buying an additional 100,400 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in Paylocity by 61.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 552,313 shares of the software maker’s stock worth $87,967,000 after buying an additional 209,897 shares during the last quarter. Institutional investors 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.