Paylocity Holding Co. (NASDAQ:PCTY) Given Consensus Rating of “Moderate Buy” by Analysts

Paylocity Holding Co. (NASDAQ:PCTY) has been given an average rating of “Moderate Buy” by the fourteen research firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $205.71.

PCTY has been the topic of a number of recent research reports. Needham & Company LLC increased their price objective on Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Mizuho lifted their price objective on Paylocity from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. KeyCorp upped their target price 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. BMO Capital Markets lifted their price target on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group raised their price objective on shares of Paylocity from $215.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, December 9th.

Insider Buying and Selling at Paylocity

In other news, Director Steven I. Sarowitz sold 10,237 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $210.10, for a total value of $2,150,793.70. Following the completion of the transaction, the director now owns 9,214,115 shares in the company, valued at $1,935,885,561.50. This represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ryan Glenn sold 2,600 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $205.40, for a total transaction of $534,040.00. Following the sale, the chief financial officer now owns 48,150 shares in the company, valued at approximately $9,890,010. The trade was a 5.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 151,193 shares of company stock valued at $30,460,258. Company insiders own 21.91% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. CIBC Asset Management Inc boosted its position in Paylocity by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker’s stock worth $273,000 after acquiring an additional 58 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in shares of Paylocity by 3.7% in the third quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker’s stock worth $395,000 after purchasing an additional 82 shares in the last quarter. Covestor Ltd boosted its holdings in Paylocity by 6.4% during the third quarter. Covestor Ltd now owns 1,373 shares of the software maker’s stock worth $227,000 after purchasing an additional 83 shares during the last quarter. King Luther Capital Management Corp grew its position in Paylocity by 1.0% in the second quarter. King Luther Capital Management Corp now owns 9,981 shares of the software maker’s stock valued at $1,316,000 after purchasing an additional 103 shares in the last quarter. Finally, SkyOak Wealth LLC increased its stake in Paylocity by 7.1% in the 2nd quarter. SkyOak Wealth LLC now owns 1,837 shares of the software maker’s stock valued at $242,000 after buying an additional 122 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors.

Paylocity Price Performance

PCTY opened at $196.83 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $10.97 billion, a P/E ratio of 50.34, a price-to-earnings-growth ratio of 4.93 and a beta of 0.92. The company’s 50 day simple moving average is $195.46 and its 200-day simple moving average is $166.05. Paylocity has a one year low of $129.94 and a one year high of $215.68.

About Paylocity

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.