Mizuho Remains Bullish on Paylocity Holding (PCTY) Post Earnings

Core Insights - Paylocity Holding Corporation (NASDAQ:PCTY) is identified as one of the most oversold stocks on NASDAQ, with a Buy rating reiterated by Mizuho and a price target set at $150.00 [1] - The company reported fiscal Q2 2026 financial results, showing recurring and other revenue of $387.0 million, an 11.3% increase year-over-year, and total revenue of $416.1 million, up 10.4% compared to fiscal Q2 2025 [1] - Paylocity demonstrated strong cash flow performance, with a trailing twelve months net cash provided by operating activities margin of 28.3% and a free cash flow margin of 23.6% [1] Rating Updates - Following the financial results, Baird adjusted its price target for Paylocity to $220 from $245 while maintaining an Outperform rating, citing progress on margins and free cash flow [3] - TD Cowen also revised its price target to $178 from $188, keeping a Buy rating, and noted the company's strong fiscal Q2 performance and positive outlook regarding AI displacement and valuation [3] Company Overview - Paylocity develops and provides cloud-based software solutions, including payroll, human capital management, benefits administration, time labor tracking, and talent management [4]