Analysts Set Paylocity Holding Co. (NASDAQ:PCTY) PT at $192.71

Shares of Paylocity Holding Co. (NASDAQ:PCTY) have received a consensus rating of “Moderate Buy” from the seventeen research firms that are presently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $190.65.

A number of analysts recently issued reports on the company. Barclays raised their price objective on Paylocity from $166.00 to $178.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Stifel Nicolaus dropped their target price on Paylocity from $205.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Jefferies Financial Group dropped their target price on Paylocity from $180.00 to $145.00 and set a “hold” rating for the company in a research report on Monday. KeyCorp lifted their target price on Paylocity from $186.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Finally, Robert W. Baird decreased their price objective on Paylocity from $225.00 to $195.00 and set an “outperform” rating for the company in a research note on Tuesday, June 18th.

Paylocity Trading Down 1.2 %

Shares of NASDAQ:PCTY opened at $133.44 on Friday. The business has a 50-day moving average price of $152.85 and a 200 day moving average price of $160.84. The company has a market capitalization of $7.53 billion, a price-to-earnings ratio of 38.79, a PEG ratio of 2.49 and a beta of 0.90. Paylocity has a 12-month low of $132.00 and a 12-month high of $230.52.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, May 2nd. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.29. The firm had revenue of $401.28 million during the quarter, compared to the consensus estimate of $396.93 million. Paylocity had a return on equity of 22.08% and a net margin of 14.42%. As a group, equities research analysts predict that Paylocity will post 3.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Paylocity

In other Paylocity news, CAO Nicholas Rost sold 331 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $138.73, for a total value of $45,919.63. Following the completion of the sale, the chief accounting officer now owns 4,751 shares in the company, valued at $659,106.23. The sale was disclosed in a document filed with the SEC, which is available through this link. 22.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Paylocity

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCTY. Capital International Investors increased its holdings in shares of Paylocity by 119.0% in the fourth quarter. Capital International Investors now owns 1,211,021 shares of the software maker’s stock valued at $199,637,000 after purchasing an additional 658,057 shares during the period. Wasatch Advisors LP increased its holdings in shares of Paylocity by 35.0% in the first quarter. Wasatch Advisors LP now owns 2,396,692 shares of the software maker’s stock valued at $411,895,000 after purchasing an additional 621,946 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Paylocity in the fourth quarter valued at approximately $82,172,000. Clearbridge Investments LLC increased its holdings in shares of Paylocity by 2,212.5% in the fourth quarter. Clearbridge Investments LLC now owns 381,952 shares of the software maker’s stock valued at $62,965,000 after purchasing an additional 365,435 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of 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 period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

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.