Yahoo Finance Here's Why Paylocity (PCTY) is a Strong Growth Stock
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Why This 1 Growth Stock Should Be On Your Watchlist
For growth investors, a company's financial strength, overall health, and future outlook take precedence, so they'll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate 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 is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of A and VGM Score of B. Earnings are expected to grow 22.3% year-over-year for the current fiscal year, with sales growth of 18.8%.
Seven analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.23 to $6.30 per share. PCTY also boasts an average earnings surprise of 21.9%.
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.
PCTY should be on investors' short lists because of its impressive growth fundamentals, a good Zacks Rank, and strong Growth and VGM Style Scores.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Paylocity Holding Corporation (PCTY) : Free Stock Analysis Report
