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PCTY · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Paylocity Holding Corporation Common Stock (PCTY) stock moving?
Paylocity posted a Q1 FY27 beat on Nov 5: revenue of $451.7M (up 10.7%) and adjusted EPS of $2.09 both topped consensus, with recurring other revenue up 12.0%. Management raised FY27 sales guidance to $1.910B-$1.925B (consensus $1.893B) and set Q2 sales guidance of $452.5M-$457.5M (consensus $446.7M). The company also repurchased $152.5M of stock in the quarter. The stock fell to an intraday low of $160 on Nov 6 before recovering to close at $173.15 on heavy volume of about 1.23M shares. It has since closed higher on Nov 9 ($177.81) and Nov 10 ($179.00) on similar volume, about 5.5% above the Nov 5 close of $169.57, and it is trading near the 30-day intraday high of $181.57 set Nov 9. Analysts followed with a series of price target increases: Citigroup $214 (Buy), BTIG $210 (Buy), Truist $200 (Buy), Citizens $200 (Market Outperform), Cantor Fitzgerald $200 (Overweight, Oct 30) and Barclays $176 (Equal-Weight). Most targets sit above the current price, while Barclays remains the main cautious voice. The news flow has no material negatives, though the reaction to the beat-and-raise has been volatile.
News behind the analysis
- Paylocity Announces First Quarter Fiscal 2027 Financial ResultsQ1 FY27 total revenue rose 10.7% to $451.7M and recurring other revenue rose 12.0% to $424.5M. GAAP net income was $57.6M, or $1.07 per diluted share.
- Paylocity Holding Q1 Adj. EPS $2.09 Beats $1.91 Estimate, Sales $451.669M Beat $443.061M EstimateAdjusted EPS of $2.09 beat the $1.91 consensus, and sales of $451.7M beat the $443.1M estimate.
- Paylocity Holding Sees FY2027 Sales $1.910B-$1.925B vs $1.893B EstThe company raised its FY2027 sales guidance to $1.910B-$1.925B, above the $1.893B consensus estimate.
- Paylocity Holding Sees Q2 Sales $452.500M-$457.500M vs $446.743M EstQ2 sales guidance of $452.5M-$457.5M sits above the $446.7M consensus estimate.
- Citigroup Maintains Buy on Paylocity Holding, Raises Price Target to $214Citigroup reaffirmed its Buy rating and raised its price target from $208 to $214.
- BTIG Maintains Buy on Paylocity Holding, Raises Price Target to $210BTIG kept its Buy rating and set a $210 price target after the quarterly update.
- Truist Adjusts Price Target on Paylocity to $200 From $165, Keeps Buy RatingTruist raised its price target from $165 to $200 and kept its Buy rating.
- Citizens Maintains Market Outperform on Paylocity Holding, Raises Price Target to $200Citizens kept its Market Outperform rating and raised its price target to $200.
- Barclays Maintains Equal-Weight on Paylocity Holding, Raises Price Target to $176Barclays kept its Equal-Weight rating and raised its price target to $176, the most cautious target among the recent updates.
About Paylocity Holding Corporation Common Stock
Paylocity, based in the Chicago area, sells cloud software that handles payroll, HR, benefits, time tracking and talent management, mostly for mid-sized US employers. It serves about 44,400 clients, keeps more than 92% of its revenue from year to year, and is adding AI tools and finance and IT features to its platform.
How it makes money
Most of its money comes from recurring subscription and per-employee fees for its payroll and HR software. That was about $1.65 billion of roughly $1.77 billion in total revenue in fiscal 2026, which ended June 2026. The rest, about 7%, is interest it earns on client payroll money it holds for a short time before paying it out, so this part depends on interest rates.
What usually moves PCTY
- Employment levels and headcount at small and mid-sized businesses
- Interest rates, which affect income on client funds
- New client wins and revenue per client
- Competition and pricing in payroll and HR software
- Profit margins and AI product adoption