Yahoo Finance Paylocity (PCTY) is a Top-Ranked Growth Stock: Should You Buy?
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
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 upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.23 to $6.30 per share for 2024. PCTY boasts an average earnings surprise of 21.9%.
Paylocity is also cash rich. The company has generated cash flow growth of 34.6%, and is expected to report cash flow expansion of 37.3% in 2024.
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
