Why Paylocity Was Up 17% in January
Shares of human capital management company Paylocity Holding Corporation (NASDAQ: PCTY) started off 2020 with a bang, rising 17.4% in January, according to data provided by S&P Global Market Intelligence. This was a continuation of the stock's outsized 2019 performance, which saw shares rise 100%.
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It's easy to understand investors' excitement. Quarterly revenue has grown more than 20% year over year in 12 straight quarters. What's more, Paylocity beat its own revenue guidance in each quarter reported during calendar year 2019. Looking at the runway, the company claims to only have 4% of its addressable market, showing there's still plenty of room for further revenue growth. And competitively, it looks well positioned against its peers, as it claims around half of revenue comes from stealing customers from the competition.
Source Fool.com
