Paylocity (NASDAQ:PCTY) Given New $220.00 Price Target at Mizuho

Paylocity (NASDAQ:PCTY - Get Free Report) had its price objective decreased by stock analysts at Mizuho from $245.00 to $220.00 in a report released on Tuesday, MarketBeat reports. The brokerage presently has an "outperform" rating on the software maker's stock. Mizuho's target price points to a potential upside of 19.58% from the company's current price.

Several other research firms have also issued reports on PCTY. Jefferies Financial Group increased their target price on shares of Paylocity from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, February 7th. UBS Group upped their price target on Paylocity from $211.00 to $220.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Raymond James reaffirmed an "outperform" rating and set a $265.00 target price (up from $215.00) on shares of Paylocity in a research note on Friday, February 7th. Stifel Nicolaus raised their price objective on Paylocity from $220.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Finally, Piper Sandler reissued an "overweight" rating and set a $254.00 price target (up from $212.00) on shares of Paylocity in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $229.82.

Paylocity Stock Performance

Shares of PCTY traded up $0.23 during mid-day trading on Tuesday, hitting $183.98. 260,735 shares of the company traded hands, compared to its average volume of 481,072. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of 47.17, a P/E/G ratio of 4.49 and a beta of 0.76. The stock has a 50-day moving average price of $194.20 and a two-hundred day moving average price of $194.49. Paylocity has a 1 year low of $129.94 and a 1 year 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.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. Equities analysts anticipate that Paylocity will post 4.36 earnings per share for the current year.

Insider Activity

In other news, Director Steven I. Sarowitz sold 26,252 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.91, for a total value of $5,116,777.32. Following the sale, the director now directly owns 420,000 shares in the company, valued at approximately $81,862,200. This trade represents a 5.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 21.91% of the company's stock.

Institutional Trading of Paylocity

Several institutional investors and hedge funds have recently bought and sold shares of PCTY. SBI Securities Co. Ltd. purchased a new stake in shares of Paylocity during the 4th quarter worth about $29,000. USA Financial Formulas purchased a new position in Paylocity during the first quarter worth approximately $29,000. UMB Bank n.a. boosted its position in Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock worth $49,000 after purchasing an additional 72 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Paylocity by 489.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock valued at $54,000 after purchasing an additional 225 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its position in shares of Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock valued at $55,000 after buying an additional 63 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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.