Paylocity Holding Co. (NASDAQ:PCTY) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Paylocity Holding Co. (NASDAQ:PCTY - Get Free Report) have earned an average recommendation of "Moderate Buy" from the fourteen analysts that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $196.64.

A number of analysts recently issued reports on the stock. StockNews.com downgraded shares of Paylocity from a "buy" rating to a "hold" rating in a report on Saturday, November 9th. Piper Sandler raised their target price on Paylocity from $172.00 to $212.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Needham & Company LLC increased their price target on Paylocity from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Mizuho upped their target price on Paylocity from $175.00 to $180.00 and gave the stock a "neutral" rating in a research note on Monday, November 4th. 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 note on Thursday, October 31st.

Paylocity Stock Performance

NASDAQ:PCTY traded down $0.19 during trading hours on Wednesday, reaching $194.59. The company had a trading volume of 73,358 shares, compared to its average volume of 499,610. The firm has a market cap of $10.85 billion, a PE ratio of 49.82, a price-to-earnings-growth ratio of 4.96 and a beta of 0.93. Paylocity has a 1-year low of $129.94 and a 1-year high of $215.68. The business's 50 day moving average price is $176.43 and its 200-day moving average price is $159.08. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32.

Insider Transactions at Paylocity

In other Paylocity news, Director Jeffrey T. Diehl sold 946 shares of the company's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $204.74, for a total value of $193,684.04. Following the transaction, the director now owns 1,767 shares of the company's stock, valued at $361,775.58. This represents a 34.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Rachit Lohani sold 658 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total transaction of $107,142.14. Following the completion of the transaction, the senior vice president now owns 39,764 shares in the company, valued at approximately $6,474,772.12. This represents a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,842 shares of company stock worth $6,243,313 in the last quarter. Company insiders own 21.91% of the company's stock.

Institutional Trading of Paylocity

Several hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its stake in 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 worth $1,518,176,000 after acquiring an additional 278,607 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Paylocity by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker's stock worth $173,053,000 after purchasing an additional 36,590 shares in the last quarter. Liontrust Investment Partners LLP raised its stake in Paylocity by 27.1% in the second quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker's stock valued at $106,840,000 after buying an additional 172,807 shares in the last quarter. Van Berkom & Associates Inc. boosted its position in shares of Paylocity by 20.5% during the 2nd quarter. Van Berkom & Associates Inc. now owns 579,801 shares of the software maker's stock worth $76,447,000 after acquiring an additional 98,478 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Paylocity by 3.5% in the 3rd quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker's stock valued at $85,444,000 after acquiring an additional 17,560 shares during 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.