Paylocity Holding Co. (NASDAQ:PCTY) Receives $233.25 Average Price Target from Analysts

Paylocity Holding Co. (NASDAQ:PCTY) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $233.25.

PCTY has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price target on Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, February 7th. StockNews.com lowered Paylocity from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. UBS Group lifted their price target on shares of Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a report on Friday, February 7th. TD Cowen reduced their price objective on Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Citigroup raised shares of Paylocity from a “neutral” rating to a “buy” rating and increased their price target for the company from $214.00 to $231.00 in a research note on Thursday, January 16th.

Paylocity Stock Performance

Shares of NASDAQ PCTY opened at $191.13 on Tuesday. The business’s 50-day simple moving average is $201.41 and its 200-day simple moving average is $192.04. Paylocity has a 52 week low of $129.94 and a 52 week high of $223.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $10.68 billion, a price-to-earnings ratio of 49.01, a P/E/G ratio of 4.49 and a beta of 0.94.

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

Insider Transactions at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 23,243 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $191.00, for a total transaction of $4,439,413.00. Following the transaction, the director now owns 470,452 shares of the company’s stock, valued at $89,856,332. The trade was a 4.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 52,095 shares of company stock worth $10,076,554 in the last three months. Insiders own 21.91% of the company’s stock.

Hedge Funds Weigh In On Paylocity

A number of institutional investors have recently added to or reduced their stakes in the company. Certuity LLC acquired a new position in shares of Paylocity during the 4th quarter worth about $232,000. Edgestream Partners L.P. increased its position in Paylocity by 222.3% during the third quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock worth $1,788,000 after buying an additional 7,475 shares during the last quarter. Barclays PLC raised its stake in Paylocity by 14.3% in the third quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock valued at $7,407,000 after buying an additional 5,609 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Paylocity by 5,742.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker’s stock valued at $1,165,000 after buying an additional 5,742 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Paylocity by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker’s stock worth $46,592,000 after acquiring an additional 4,697 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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.