Paylocity (NASDAQ:PCTY) Price Target Raised to $180.00

Paylocity (NASDAQ:PCTY) had its price objective raised by Mizuho from $175.00 to $180.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a neutral rating on the software maker’s stock.

Other research analysts have also recently issued research reports about the company. BTIG Research reduced their target price on Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. BMO Capital Markets lifted their price objective on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Needham & Company LLC increased their target price on shares of Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. KeyCorp lifted their price target on shares of Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Truist Financial increased their price objective on shares of Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Paylocity presently has an average rating of “Moderate Buy” and an average target price of $196.64.

Paylocity Stock Performance

Shares of PCTY stock opened at $210.71 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market capitalization of $11.75 billion, a price-to-earnings ratio of 53.89, a price-to-earnings-growth ratio of 4.63 and a beta of 0.93. Paylocity has a one year low of $129.94 and a one year high of $213.98. The company has a 50 day moving average price of $169.01 and a 200 day moving average price of $156.37.

Insider Activity at Paylocity

In other Paylocity news, SVP Rachit Lohani sold 658 shares of Paylocity stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total transaction of $107,142.14. Following the sale, the senior vice president now directly owns 39,764 shares in the company, valued at $6,474,772.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Paylocity news, SVP Rachit Lohani sold 658 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total transaction of $107,142.14. Following the completion of the transaction, the senior vice president now directly owns 39,764 shares of the company’s stock, valued at $6,474,772.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey T. Diehl sold 29,606 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $196.55, for a total transaction of $5,819,059.30. Following the transaction, the director now directly owns 11,755 shares in the company, valued at $2,310,445.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,396 shares of company stock valued at $5,947,989. Insiders own 21.91% of the company’s stock.

Institutional Investors Weigh In On Paylocity

A number of institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its holdings in Paylocity by 55.2% in the first quarter. BNP Paribas Financial Markets now owns 36,818 shares of the software maker’s stock worth $6,328,000 after purchasing an additional 13,093 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Paylocity by 12.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,343 shares of the software maker’s stock valued at $1,090,000 after buying an additional 708 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Paylocity by 3.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 2,900 shares of the software maker’s stock valued at $498,000 after buying an additional 100 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in Paylocity during the first quarter worth about $219,000. Finally, Mediolanum International Funds Ltd bought a new position in Paylocity in the first quarter worth about $1,974,000. 94.76% of the stock is currently owned by institutional investors.

Paylocity Company Profile

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.