While Paylocity Holding Corp has underperformed by -2.67%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PCTY fell by -3.41%, with highs and lows ranging from $230.52 to $139.40, whereas the simple moving average fell by -5.80% in the last 200 days.
On February 06, 2024, BTIG Research started tracking Paylocity Holding Corp (NASDAQ: PCTY) recommending Buy. A report published by Jefferies on January 05, 2024, Downgraded its rating to ‘Hold’ for PCTY. UBS also rated PCTY shares as ‘Neutral’, setting a target price of $160 on the company’s shares in an initiating report dated November 07, 2023. BofA Securities Initiated an Neutral rating on October 26, 2023, and assigned a price target of $210. Barclays initiated its ‘Equal Weight’ rating for PCTY, as published in its report on May 30, 2023. DA Davidson’s report from March 30, 2023 suggests a price prediction of $245 for PCTY shares, giving the stock a ‘Buy’ rating. DA Davidson also rated the stock as ‘Neutral’.
Analysis of Paylocity Holding Corp (PCTY)
Further, the quarter-over-quarter increase in sales is 18.07%, showing a positive trend in the upcoming months.
Paylocity Holding Corp’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of 20.90% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.10, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and PCTY has an average volume of 487.19K. On a monthly basis, the volatility of the stock is set at 3.24%, whereas on a weekly basis, it is put at 4.42%, with a gain of 9.49% over the past seven days. Furthermore, long-term investors anticipate a median target price of $193.63, showing growth from the present price of $163.79, which can serve as yet another indication of whether PCTY is worth investing in or should be passed over.
How Do You Analyze Paylocity Holding Corp Shares?
Software – Application giant Paylocity Holding Corp (PCTY) is based in the USA and is one of the largest companies in the market. When comparing Paylocity Holding Corp shares with other companies under Technology, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 47.75, there is a growth in quarterly earnings of 46.79%.
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 21.99%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 77.52% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
PCTY shares are owned by institutional investors to the tune of 77.52% at present.
