Paylocity (NASDAQ:PCTY) Upgraded at Citigroup

Citigroup upgraded shares of Paylocity (NASDAQ:PCTY) from a neutral rating to a buy rating in a research report released on Thursday, MarketBeat Ratings reports. They currently have $231.00 target price on the software maker’s stock, up from their prior target price of $214.00.

A number of other analysts have also weighed in on PCTY. Mizuho upped their target price on Paylocity from $180.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Truist Financial raised their price objective on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Piper Sandler boosted their target price on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. TD Cowen lowered their price target on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, StockNews.com upgraded shares of Paylocity from a “hold” rating to a “buy” rating in a research note on Saturday, December 7th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.64.

Paylocity Trading Up 1.9 %

NASDAQ PCTY opened at $199.30 on Thursday. Paylocity has a one year low of $129.94 and a one year high of $215.68. 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 company has a market capitalization of $11.11 billion, a price-to-earnings ratio of 50.97, a price-to-earnings-growth ratio of 4.69 and a beta of 0.93. The company’s 50-day simple moving average is $201.76 and its two-hundred day simple moving average is $173.87.

Insider Transactions at Paylocity

In other Paylocity news, CAO Nicholas Rost sold 212 shares of Paylocity stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total transaction of $40,977.48. Following the completion of the sale, the chief accounting officer now directly owns 7,364 shares in the company, valued at approximately $1,423,387.56. The trade was a 2.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Andrew Cappotelli sold 247 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total transaction of $47,742.63. Following the completion of the sale, the senior vice president now owns 14,634 shares in the company, valued at $2,828,605.86. The trade was a 1.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 157,486 shares of company stock worth $31,751,368 over the last three months. 21.91% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PCTY. UMB Bank n.a. increased its holdings in shares of Paylocity by 1,650.0% during the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after purchasing an additional 165 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Paylocity in the third quarter valued at approximately $39,000. Signaturefd LLC lifted its position in shares of Paylocity by 121.0% during the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after buying an additional 167 shares in the last quarter. Quarry LP raised its position in Paylocity by 149.2% during the third quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after acquiring an additional 185 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Paylocity by 43.3% during the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock worth $77,000 after purchasing an additional 116 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

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.