Paylocity (NASDAQ:PCTY) Reaches New 52-Week Low at $130.24

Paylocity Holding Co. (NASDAQ:PCTY) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $130.24 and last traded at $130.63, with a volume of 34923 shares trading hands. The stock had previously closed at $131.85.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PCTY shares. Stifel Nicolaus reduced their target price on Paylocity from $205.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, June 5th. Citigroup reduced their target price on Paylocity from $178.00 to $155.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Needham & Company LLC reissued a “buy” rating and set a $200.00 target price on shares of Paylocity in a research note on Friday, May 3rd. Jefferies Financial Group reduced their target price on Paylocity from $180.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Finally, Piper Sandler reduced their target price on Paylocity from $210.00 to $194.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $190.65.

Paylocity Price Performance

The company has a market cap of $7.46 billion, a PE ratio of 38.44, a PEG ratio of 2.41 and a beta of 0.93. The business has a 50-day moving average of $150.25 and a 200 day moving average of $159.85.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, May 2nd. The software maker reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.29. The company had revenue of $401.28 million during the quarter, compared to analysts’ expectations of $396.93 million. Paylocity had a return on equity of 22.08% and a net margin of 14.42%. On average, equities analysts predict that Paylocity Holding Co. will post 3.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other Paylocity news, CAO Nicholas Rost sold 331 shares of the company’s stock in a transaction dated 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 accessible through this link. Company insiders own 22.50% of the company’s stock.

Institutional Trading of Paylocity

Several institutional investors have recently made changes to their positions in PCTY. Venturi Wealth Management LLC grew its position in shares of Paylocity by 144.1% during the first quarter. Venturi Wealth Management LLC now owns 166 shares of the software maker’s stock worth $29,000 after purchasing an additional 98 shares in the last quarter. American National Bank purchased a new stake in shares of Paylocity during the fourth quarter worth about $31,000. GAMMA Investing LLC bought a new position in Paylocity during the fourth quarter valued at approximately $36,000. Principal Securities Inc. bought a new position in Paylocity during the fourth quarter valued at approximately $41,000. Finally, J.Safra Asset Management Corp boosted its stake in Paylocity by 80.0% during the first quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock valued at $42,000 after buying an additional 108 shares during the last quarter. 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.