PCTY Paylocity Holdng

Shaker Investments LLC OH significantly reduced its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 60.5% in Q3, selling 11,418 shares but still holding 7,461 shares valued at $1.188 million. Despite this, Paylocity outperformed Q3 expectations with an EPS of $1.75 and revenue of $408.17 million. Institutional investors own 94.76% of the stock, while analysts maintain a "Moderate Buy" consensus rating with an average target price of $204.32.

Citigroup has raised its price target for Paylocity (PCTY) to $179 from $175, while maintaining a "Buy" rating. This adjustment comes amidst varied analyst reactions, with other firms also setting price targets, and reflects continued interest in the cloud-based human capital management and payroll platform. Wall Street analysts project an average target price of $192.94 for PCTY, suggesting a 28.17% upside from its current price.

Paylocity Holding Corporation (PCTY) recently filed a US$64.96 million shelf registration for employee stock ownership plan (ESOP) related shares, while BTIG initiated coverage with a buy rating. While these events might not significantly alter the near-term outlook, which focuses on recurring revenue growth and cross-selling, they do provide additional context for investors. Paylocity's prior US$500 million share repurchase program and projected growth to US$2.1 billion in revenue by 2028 are important considerations alongside new analyst coverage.

Paylocity Holding Corporation recently filed a US$64.96 million shelf registration tied to an ESOP offering, and BTIG launched coverage with a buy rating. While these events are notable, they do not significantly alter the near-term investment picture for Paylocity. The company's growth continues to hinge on execution in recurring revenue and cross-selling, with a focus on managing mid to high single-digit revenue growth and integrating capital returns with employee ownership.

BTIG Research has initiated coverage on Paylocity (NASDAQ:PCTY) with a "buy" rating, contributing to a "Moderate Buy" consensus and a $206.37 price target among analysts. The software maker recently beat earnings expectations, reporting an EPS of $1.75 and revenue of $408.17 million, representing a 12.5% year-over-year increase. Despite a CFO stock sale, institutional investors have increased their holdings, with 94.76% of the stock owned by this group.

BTIG analyst Allan Verkhovski has initiated coverage on Paylocity Holding (PCTY) with a Buy rating and a price target of $180.00 USD. This aligns with other recent bullish analyst ratings, reinforcing a positive outlook for the company which operates a cloud-based human capital management and payroll platform for midmarket customers. Analysts project an average target price of $192.94 for PCTY, implying an upside of 28.85% from its current price, with GuruFocus estimating an upside of 57.79% based on its GF Value of $236.28.