Paylocity (PCTY) has experienced a 10.2% decline in stock value over the past four weeks, raising concerns about selling pressure. Currently, the stock has an RSI reading of 29.59, indicating that it is nearing oversold territory. Analysts are optimistic, with a 1.2% increase in the consensus EPS estimate for the current year, suggesting a potential turnaround.
Paylocity holds a Zacks Rank #1 (Strong Buy), placing it in the top 5% of over 4,000 stocks based on trends in earnings estimate revisions. The company’s earnings estimate revisions typically lead to price appreciation in the near term, adding to the expectations of a rebound.
