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Tale of the Tape

Zacks Equity Research

Why You Shouldn't Bet Against Paylocity Holding (PCTY) Stock
October 04, 2016

PCTY

Trades from $3

One stock that might be an intriguing choice for investors right now is Paylocity Holding Corporation (PCTY - Free Report) .This is because this security in the Internet Software/Services space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Internet Software/Services space as it currently has a Zacks Industry Rank of 64 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, Paylocity is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past 60 days, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

PAYLOCITY HLDG Price and Consensus

PAYLOCITY HLDG Price and Consensus | PAYLOCITY HLDG Quote

In fact, over the past 60 days, current quarter estimates have narrowed from a loss of 9 cents per share to a loss of 7 cents per share, while current year estimates have risen from break-even per share to 2 cents per share. This has helped PCTY to earn a Zacks Rank #1 (Strong Buy), further underscoring the company’s solid position. You can see the complete list of today’s Zacks #1 Rank stocks here

So, if you are looking for a decent pick in a strong industry, consider Paylocity. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

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