At the time of writing, Paylocity Holding Corporation [PCTY] stock is trading at $226.04, up 2.97%. An important factor to consider is whether the stock is rising or falling in short-term value. The PCTY shares have gain 10.27% over the last week, with a monthly amount glided 17.41%, and seem to be holding up well over a long-time horizon.
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On 2, February 2023, Paylocity Announces Second Quarter Fiscal Year 2023 Financial Results. In a post published today on Yahoo Finance, Q2 2023 Recurring & Other Revenue of $256.4 million, up 31% year-over-year.
From an analyst’s perspective:
Paylocity Holding Corporation [NASDAQ: PCTY] stock has seen the most recent analyst activity on October 28, 2022, when DA Davidson downgraded its rating to a Neutral but kept the price target unchanged to $250 for it. Previously, Citigroup started tracking the stock with Neutral rating on September 01, 2022, and set its price target to $294. Wolfe Research upgraded its rating to a Outperform and increased its price target to $240 on April 22, 2022. Credit Suisse initiated its recommendation with a Neutral and recommended $225 as its price target on March 23, 2022. Jefferies upgraded its rating to Buy for this stock on February 28, 2022, but kept the price target unchanged to $255. In a note dated February 04, 2022, Piper Sandler upgraded an Overweight rating on this stock and boosted its target price from $244 to $249.
For the past year, the stock price of Paylocity Holding Corporation fluctuated between $152.01 and $276.88. Currently, Wall Street analysts expect the stock to reach $272.73 within the next 12 months. Paylocity Holding Corporation [NASDAQ: PCTY] shares were valued at $226.04 at the most recent close of the market. An investor can expect a potential return of 20.66% based on the average PCTY price forecast.
Analyzing the PCTY fundamentals
According to Paylocity Holding Corporation [NASDAQ:PCTY], the company’s sales were 253.28 billion in the recent quarter, which represents an 39.40% jump. Gross Margin for this corporation currently stands at +65.33% with Operating Margin at +10.21%, Pretax Margin comes in at +9.80%, and Net Margin reading is +10.65%.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 222.78 points at the first support level, and at 219.53 for the second support level. However, for the 1st resistance point, the stock is sitting at 231.17, and for the 2nd resistance point, it is at 236.31.
Paylocity Holding Corporation [PCTY] reported earnings per share of $0.8 for its fiscal quarter that ended on 6/29/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.54/share, meaning a difference of $0.26 and a surprise factor of 48.10%. By comparison, the stated earnings for the previous quarter ended on 3/30/2022 were $1.22 per share as compared to estimates of $0.91 per share, a difference of $0.31 representing a surprise of 34.10%.
Ratios To Look Out For
It is important to note that Paylocity Holding Corporation [NASDAQ:PCTY] has a current ratio of 1.00. On the other hand, the Quick Ratio is 1.01, and the Cash Ratio is 0.03. Considering the valuation of this stock, the price to sales ratio is 11.55, the price to book ratio is 15.69 and the P/E (TTM) ratio is 141.54.
Transactions by insiders
The next item on our agenda is insider trading, which has seen 1 insider purchases totaling 12,537 shares and 33 insider sales totaling 231,226 shares over the past 3 months. Recent insider trading involved Sarowitz Steven I, Director, that happened on Nov 10 when 65431.0 shares were sold. Director, Sarowitz Steven I completed a deal on Nov 09 to sell 69888.0 shares. Meanwhile, Director Sarowitz Steven I sold 89681.0 shares on Nov 08.