Paylocity Holding Co. (NASDAQ:PCTY) Receives $205.71 Consensus Price Target from Analysts

Shares of Paylocity Holding Co. (NASDAQ:PCTY) have been assigned an average recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $205.71.

PCTY has been the topic of a number of recent analyst reports. Barclays upped their price objective on Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Mizuho upped their price target on Paylocity from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Needham & Company LLC raised their price objective on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Truist Financial upped their target price on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, KeyCorp lifted their price target on shares of Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st.

Paylocity Stock Performance

NASDAQ:PCTY opened at $203.08 on Friday. The company’s 50-day moving average is $192.71 and its two-hundred day moving average is $164.61. The firm has a market capitalization of $11.32 billion, a price-to-earnings ratio of 51.93, a PEG ratio of 4.93 and a beta of 0.92. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. Paylocity has a 1-year low of $129.94 and a 1-year high of $215.68.

Insider Buying and Selling

In other news, CAO Nicholas Rost sold 212 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total transaction of $40,977.48. Following the completion of the transaction, the chief accounting officer now directly owns 7,364 shares of the company’s stock, valued at approximately $1,423,387.56. The trade was a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Rachit Lohani sold 658 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total transaction of $107,142.14. Following the completion of the sale, the senior vice president now directly owns 39,764 shares in the company, valued at approximately $6,474,772.12. This trade represents a 1.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 139,710 shares of company stock valued at $28,124,978 in the last ninety days. Company insiders own 21.91% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc grew its stake in shares of Paylocity by 3.6% during the third quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker’s stock worth $273,000 after purchasing an additional 58 shares in the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of Paylocity by 3.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker’s stock valued at $395,000 after acquiring an additional 82 shares during the last quarter. Covestor Ltd raised its position in shares of Paylocity by 6.4% during the 3rd quarter. Covestor Ltd now owns 1,373 shares of the software maker’s stock worth $227,000 after acquiring an additional 83 shares in the last quarter. King Luther Capital Management Corp lifted its stake in Paylocity by 1.0% during the second quarter. King Luther Capital Management Corp now owns 9,981 shares of the software maker’s stock worth $1,316,000 after purchasing an additional 103 shares during the last quarter. Finally, SkyOak Wealth LLC boosted its holdings in Paylocity by 7.1% in the second quarter. SkyOak Wealth LLC now owns 1,837 shares of the software maker’s stock valued at $242,000 after purchasing an additional 122 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.