One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Paylocity Holding cleared that benchmark Friday, with a jump from 75 to 82 Friday.
IBD's unique rating identifies share price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks compares to all the other stocks in our database.
Decades of market research shows that the best-performing stocks often have an RS Rating of over 80 as they begin their biggest runs.
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While the stock is not near an ideal buy zone right now, see if it is able to form and break out from a proper base.
Earnings growth increased last quarter from 12% to 19%. But sales fell from 16% to 14%.
Paylocity Holding earns the No. 14 rank among its peers in the Computer Software-Enterprise industry group. Palantir Technologies, Smartsheet and Klaviyo are among the top 5 highly rated stocks within the group.
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