Paylocity Holding Co. (NASDAQ:PCTY) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Paylocity Holding Co. (NASDAQ:PCTY) have been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $179.87.

PCTY has been the subject of several research analyst reports. JMP Securities restated a “market outperform” rating and issued a $250.00 price target on shares of Paylocity in a research report on Monday, August 5th. Robert W. Baird decreased their target price on Paylocity from $225.00 to $195.00 and set an “outperform” rating for the company in a research report on Tuesday, June 18th. KeyCorp upped their price target on Paylocity from $171.00 to $182.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $200.00 target price on shares of Paylocity in a research report on Thursday, September 5th. Finally, TD Cowen dropped their price objective on Paylocity from $180.00 to $153.00 and set a “buy” rating on the stock in a report on Thursday, June 20th.

Paylocity Stock Down 2.5 %

Shares of PCTY opened at $165.99 on Tuesday. The firm has a market capitalization of $9.22 billion, a PE ratio of 48.25, a P/E/G ratio of 4.05 and a beta of 0.95. The firm has a 50-day moving average price of $158.23 and a 200 day moving average price of $154.44. Paylocity has a 52-week low of $129.94 and a 52-week high of $206.28.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, August 1st. The software maker reported $1.48 EPS for the quarter, beating the consensus estimate of $1.29 by $0.19. The business had revenue of $357.30 million during the quarter, compared to the consensus estimate of $350.29 million. Paylocity had a return on equity of 22.17% and a net margin of 14.74%. Paylocity’s revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.76 earnings per share. On average, equities analysts expect that Paylocity will post 4.51 EPS for the current year.

Insider Activity at Paylocity

In related news, SVP Rachit Lohani sold 658 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total value of $107,142.14. Following the completion of the sale, the senior vice president now owns 39,764 shares in the company, valued at approximately $6,474,772.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Paylocity news, CFO Ryan Glenn sold 1,400 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $140.06, for a total value of $196,084.00. Following the sale, the chief financial officer now owns 31,074 shares of the company’s stock, valued at $4,352,224.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Rachit Lohani sold 658 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total transaction of $107,142.14. Following the transaction, the senior vice president now directly owns 39,764 shares of the company’s stock, valued at $6,474,772.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,632 shares of company stock worth $7,379,399 in the last ninety days. 22.50% of the stock is currently owned by insiders.

Institutional Trading of Paylocity

Several large investors have recently added to or reduced their stakes in PCTY. Capital International Investors grew its holdings in shares of Paylocity by 119.0% during the fourth quarter. Capital International Investors now owns 1,211,021 shares of the software maker’s stock worth $199,637,000 after purchasing an additional 658,057 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of Paylocity by 35.0% during the first quarter. Wasatch Advisors LP now owns 2,396,692 shares of the software maker’s stock worth $411,895,000 after purchasing an additional 621,946 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Paylocity by 3.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock valued at $1,518,176,000 after purchasing an additional 278,607 shares during the last quarter. Capital Research Global Investors acquired a new position in Paylocity in the first quarter valued at about $46,902,000. Finally, Millennium Management LLC boosted its stake in Paylocity by 435.2% during the 2nd quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock worth $43,676,000 after acquiring an additional 269,354 shares during the last quarter. 94.76% of the stock is owned by institutional investors.

Paylocity Company Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.