On March 30, 2023, DA Davidson upgraded their outlook for Paylocity Holding (NASDAQ:PCTY) from Neutral to Buy.
Analyst Price Forecast Suggests 48.03% Upside
As of March 30, 2023, the average one-year price target for Paylocity Holding is $283.62. The forecasts range from a low of $232.30 to a high of $341.25. The average price target represents an increase of 48.03% from its latest reported closing price of $191.60.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Paylocity Holding is $1,147MM, an increase of 14.56%. The projected annual non-GAAP EPS is $4.22.
What are Large Shareholders Doing?
Price T Rowe Associates holds 5,781K shares representing 10.37% ownership of the company. In it's prior filing, the firm reported owning 7,751K shares, representing a decrease of 34.08%. The firm decreased its portfolio allocation in PCTY by 41.11% over the last quarter.
PRNHX - T. Rowe Price New Horizons Fund holds 3,817K shares representing 6.84% ownership of the company. In it's prior filing, the firm reported owning 5,457K shares, representing a decrease of 42.97%. The firm decreased its portfolio allocation in PCTY by 42.39% over the last quarter.
T. Rowe Price Investment Management holds 1,721K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 1,564K shares, representing an increase of 9.12%. The firm decreased its portfolio allocation in PCTY by 15.02% over the last quarter.
Invesco holds 1,606K shares representing 2.88% ownership of the company. In it's prior filing, the firm reported owning 1,626K shares, representing a decrease of 1.24%. The firm decreased its portfolio allocation in PCTY by 99.99% over the last quarter.
Wasatch Advisors holds 1,325K shares representing 2.38% ownership of the company. In it's prior filing, the firm reported owning 1,335K shares, representing a decrease of 0.74%. The firm decreased its portfolio allocation in PCTY by 22.68% over the last quarter.
What is the Fund Sentiment?
There are 963 funds or institutions reporting positions in Paylocity Holding. This is an increase of 84 owner(s) or 9.56% in the last quarter. Average portfolio weight of all funds dedicated to PCTY is 0.35%, a decrease of 23.64%. Total shares owned by institutions increased in the last three months by 1.36% to 49,681K shares. The put/call ratio of PCTY is 2.25, indicating a bearish outlook.
Paylocity Holding Background Information
(This description is provided by the company.)
Paylocity is a leading provider of cloud-based HR and payroll software solutions headquartered in Schaumburg, IL. Founded in 1997, Paylocity offers an intuitive, easy-to-use product suite that helps businesses tackle today's challenges while moving them toward the promise of tomorrow. Known for its unique culture and consistently recognized as one of the best places to work, Paylocity accompanies its clients on the journey to create great workplaces and help people achieve their best through automation, data-driven insights, and engagement.
This story originally appeared on Fintel.
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