StockNews.com upgraded shares of Paylocity (NASDAQ:PCTY – Free Report) from a hold rating to a buy rating in a research report sent to investors on Friday.
Other equities analysts also recently issued research reports about the stock. Mizuho boosted their price target on shares of Paylocity from $155.00 to $175.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. KeyCorp increased their price target on Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Piper Sandler boosted their price objective on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. BMO Capital Markets upped their target price on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, JMP Securities reiterated a “market outperform” rating and set a $250.00 price target on shares of Paylocity in a report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $194.20.
View Our Latest Research Report on PCTY
Paylocity Stock Down 0.2 %
Insider Transactions at Paylocity
In other news, SVP Rachit Lohani sold 658 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total value of $107,142.14. Following the completion of the transaction, the senior vice president now owns 39,764 shares in the company, valued at $6,474,772.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 21.91% of the company’s stock.
Institutional Trading of Paylocity
Several institutional investors and hedge funds have recently made changes to their positions in the stock. FORA Capital LLC purchased a new position in shares of Paylocity during the first quarter valued at approximately $1,540,000. BNP Paribas Financial Markets lifted its stake in shares of Paylocity by 55.2% during the 1st quarter. BNP Paribas Financial Markets now owns 36,818 shares of the software maker’s stock worth $6,328,000 after purchasing an additional 13,093 shares during the period. Cetera Advisors LLC acquired a new stake in shares of Paylocity during the first quarter worth $729,000. Price T Rowe Associates Inc. MD grew its position 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. Finally, Capital Research Global Investors acquired a new position in Paylocity in the first quarter valued at $46,902,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.
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.
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