Paylocity Holding Co. (NASDAQ:PCTY) Receives $233.25 Average PT from Brokerages

Shares of Paylocity Holding Co. (NASDAQ:PCTY) have been given a consensus recommendation of “Moderate Buy” by the sixteen ratings firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $233.25.

A number of research firms recently commented on PCTY. StockNews.com cut shares of Paylocity from a “buy” rating to a “hold” rating in a report on Monday, February 10th. UBS Group boosted their target price on Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Mizuho upgraded Paylocity from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $200.00 to $235.00 in a research note on Friday, January 31st. Raymond James restated an “outperform” rating and issued a $265.00 price objective (up from $215.00) on shares of Paylocity in a research note on Friday, February 7th. Finally, KeyCorp increased their target price on shares of Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th.

Paylocity Stock Performance

Shares of Paylocity stock opened at $186.33 on Tuesday. The firm has a market capitalization of $10.41 billion, a P/E ratio of 47.78, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. The business’s fifty day simple moving average is $201.20 and its 200 day simple moving average is $192.49. Paylocity has a 12 month low of $129.94 and a 12 month high of $223.80.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. As a group, analysts anticipate that Paylocity will post 4.36 EPS for the current year.

Insider Transactions at Paylocity

In other news, Director Steven I. Sarowitz sold 26,252 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the completion of the transaction, the director now owns 420,000 shares of the company’s stock, valued at approximately $81,862,200. The trade was a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 52,095 shares of company stock valued at $10,076,554. 21.91% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Paylocity

Hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new stake in shares of Paylocity during the 4th quarter worth $29,000. UMB Bank n.a. raised its position in Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after purchasing an additional 72 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Paylocity by 489.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock worth $54,000 after purchasing an additional 225 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Paylocity by 29.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock worth $55,000 after purchasing an additional 63 shares in the last quarter. Finally, Quarry LP increased its position in shares of Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after purchasing an additional 185 shares during the last quarter. 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.