TD Cowen Cuts Paylocity (NASDAQ:PCTY) Price Target to $172.00

Paylocity (NASDAQ:PCTY) had its target price cut by TD Cowen from $192.00 to $172.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the software maker’s stock.

Other analysts have also issued research reports about the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Paylocity in a research report on Wednesday, October 8th. UBS Group lowered their target price on Paylocity from $195.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, September 17th. BMO Capital Markets cut their price target on Paylocity from $200.00 to $185.00 and set an “outperform” rating on the stock in a report on Wednesday. Cowen reiterated a “buy” rating on shares of Paylocity in a research note on Monday, October 6th. Finally, JMP Securities set a $245.00 price objective on Paylocity in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Paylocity has an average rating of “Moderate Buy” and an average target price of $209.47.

Paylocity Price Performance

Shares of Paylocity stock opened at $141.88 on Wednesday. The stock has a market capitalization of $7.72 billion, a price-to-earnings ratio of 35.56, a price-to-earnings-growth ratio of 4.17 and a beta of 0.58. The business has a 50-day moving average of $157.71 and a 200 day moving average of $175.80. Paylocity has a 12 month low of $135.46 and a 12 month high of $223.80.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Tuesday, November 4th. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.23. The business had revenue of $408.17 million for 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 business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter 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. Equities research analysts anticipate that Paylocity will post 4.36 earnings per share for the current year.

Institutional Investors Weigh In On Paylocity

Institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its holdings in Paylocity by 500.6% in the second quarter. AQR Capital Management LLC now owns 449,935 shares of the software maker’s stock valued at $81,438,000 after purchasing an additional 375,023 shares in the last quarter. Vanguard Group Inc. raised its holdings in Paylocity by 7.0% during the first 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 in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of Paylocity during the 1st quarter worth approximately $47,998,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Paylocity by 1,995.2% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 259,800 shares of the software maker’s stock valued at $47,073,000 after buying an additional 247,400 shares in the last quarter. Finally, TimesSquare Capital Management LLC purchased a new position in shares of Paylocity in the 1st quarter valued at $37,085,000. Hedge funds and other 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.