Shares of Paylocity Holding Co. (NASDAQ:PCTY - Get Free Report) have been given an average rating of "Moderate Buy" by the sixteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $233.25.
Several equities research analysts recently commented on the stock. UBS Group lifted their target price on shares of Paylocity from $211.00 to $220.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Jefferies Financial Group lifted their price target on shares of Paylocity from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Needham & Company LLC increased their price objective on Paylocity from $220.00 to $250.00 and gave the company a "buy" rating in a report on Friday, February 7th. TD Cowen lowered their target price on Paylocity from $235.00 to $228.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Finally, JMP Securities upped their price target on Paylocity from $250.00 to $270.00 and gave the company a "market outperform" rating in a research report on Friday, February 7th.
Check Out Our Latest Report on PCTY
Insider Transactions at Paylocity
In other news, Director Steven I. Sarowitz sold 2,600 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $200.14, for a total transaction of $520,364.00. Following the transaction, the director now owns 8,332,347 shares of the company's stock, valued at $1,667,635,928.58. This represents a 0.03 % 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 valued at $10,076,554 in the last quarter. 21.91% of the stock is currently owned by company insiders.
Institutional Trading of Paylocity
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Paylocity by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker's stock valued at $1,916,000 after acquiring an additional 49 shares during the period. Bessemer Group Inc. lifted its holdings in shares of Paylocity by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 19,118 shares of the software maker's stock worth $3,813,000 after purchasing an additional 51 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Paylocity by 29.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock worth $55,000 after purchasing an additional 63 shares in the last quarter. UMB Bank n.a. grew its position in Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock valued at $49,000 after purchasing an additional 72 shares during the period. Finally, HighPoint Advisor Group LLC increased its stake in Paylocity by 5.1% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,559 shares of the software maker's stock valued at $326,000 after purchasing an additional 75 shares in the last quarter. 94.76% of the stock is owned by institutional investors.
Paylocity Price Performance
Paylocity stock traded down $4.80 during mid-day trading on Tuesday, reaching $186.33. The company had a trading volume of 318,935 shares, compared to its average volume of 475,223. The business has a fifty day simple moving average of $201.41 and a 200 day simple moving average of $192.04. The company has a market cap of $10.41 billion, a P/E ratio of 47.78, a P/E/G ratio of 4.49 and a beta of 0.94. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. Paylocity has a fifty-two week low of $129.94 and a fifty-two week high of $223.80.
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 analysts' consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. On average, equities research analysts predict that Paylocity will post 4.36 earnings per share for the current year.
About Paylocity
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Get Free ReportPaylocity 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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