Why Paylocity (PCTY) is a Top Growth Stock for the Long-Term
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Why This 1 Growth Stock Should Be On Your Watchlist
Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Paylocity (PCTY)
Illinois-based Paylocity Holding Corporation offers cloud-based payroll and human capital management (HCM) software solutions to medium-sized organizations across the United States.
PCTY boasts a Growth Style Score of A and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Its bottom-line is projected to rise 8.4% year-over-year for 2024, while Wall Street anticipates its top line to improve by 19.9%.
One analyst revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0 to $5.58 per share. PCTY also boasts an average earnings surprise of 39.7%.
Looking at cash flow, Paylocity is expected to report cash flow growth of 37.3% this year; PCTY has generated cash flow growth of 34.6% over the past three to five years.
With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, PCTY should be on investors' short lists.
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Paylocity Holding Corporation (PCTY) : Free Stock Analysis Report
