Company name: Paylocity Holding Corporation
Current Price: $150.88
Entry Point: $152
Target Price: $165
Projected Yield: 8.5%
Time Line: 1 to 3 weeks
Paylocity Holding Corporation provides cloud solutions for payroll accounting, personnel management, time tracking, and exemption management for the US mid-sized companies.
What's the Idea?
A trend for digitalization and remote work offers a 8.5% potential. The major drivers include the following:
● The remote video based learning system (LMS) offered by Paylocity may get more popular soon with more people working remotely.
● Paylocity solutions for human resource and payroll management will be triggering growth as long as the market share goes up.
● The cross sales may lead to larger earnings and margin growth. This may beat Paylocity's prediction (+19% till the end of the year) in Q4 and increase the gross margin by 70%.
● Technically, the stock is making historical highs, which may mean the uptrend is still there.
How to Buy Paylocity Holding Corporation
There are two ways to do that:
Freedom24 Web Platform: Go to the Web Terminal Section, type Paylocity or PCTY (Paylocity NASDAQ ticker) in the search box, and select PCTY.US in the results. Open a secure session in the trading window on the right, select the number of shares you want to buy, and click Buy.
Freedom24 iPhone App: Go to the Price screen and tab the search icon in the top right corner. In the search box that shows up, type Paylocity or PCTY (Paylocity NASDAQ ticker) and select PCTY.US in the results. You will then see Paylocity stock in the market watch; tap it and go to the Order tab in the dialog that shows up. Specify the number of shares you want to buy and click Buy.
Paylocity is trading in the NASDAQ, a US stock exchange, which means you need US dollars to buy it. If your account currency is different, you need to convert your funds to USD. To do so, go to Web Platform > Account Balance in the trading platform, or select My Portfolio > Free Margin in your Member Area.Then, click the Convert green button near the USD box, specify the amount, and confirm your transaction. You can find more on converting currencies through Freedom24 web platform here.
You can also convert euros to US dollars via the Freedom24 app: go to Portfolio, select Currency Exchange, specify the amount, and confirm your transaction.
Buy Paylocity Holding Corporation
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