Paylocity (NASDAQ:PCTY) Given New $250.00 Price Target at KeyCorp

Paylocity (NASDAQ:PCTY - Get Free Report) had its target price lifted by equities research analysts at KeyCorp from $220.00 to $250.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the software maker's stock. KeyCorp's price objective would indicate a potential upside of 19.08% from the company's current price.

PCTY has been the subject of a number of other reports. TD Cowen decreased their target price on Paylocity from $235.00 to $228.00 and set a "buy" rating for the company in a report on Monday, January 6th. Barclays lifted their price target on Paylocity from $174.00 to $180.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. Citigroup upgraded Paylocity from a "neutral" rating to a "buy" rating and increased their price objective for the company from $214.00 to $231.00 in a report on Thursday, January 16th. Needham & Company LLC boosted their target price on Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Jefferies Financial Group boosted their target price on Paylocity from $215.00 to $240.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Paylocity currently has an average rating of "Moderate Buy" and a consensus price target of $233.25.

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Paylocity Trading Down 0.8 %

NASDAQ PCTY traded down $1.68 on Friday, reaching $209.94. The stock had a trading volume of 179,627 shares, compared to its average volume of 525,648. The firm has a market capitalization of $11.70 billion, a price-to-earnings ratio of 53.90, a P/E/G ratio of 5.19 and a beta of 0.95. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. Paylocity has a 12-month low of $129.94 and a 12-month high of $223.80. The stock has a fifty day moving average price of $201.28 and a two-hundred day moving average price of $181.70.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its earnings results on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.93%. As a group, sell-side analysts forecast that Paylocity will post 4.46 EPS for the current fiscal year.

Insider Buying and Selling at Paylocity

In related news, CAO Nicholas Rost sold 212 shares of the business's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total transaction of $40,977.48. Following the sale, the chief accounting officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Andrew Cappotelli sold 247 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 $47,742.63. Following the sale, the senior vice president now directly owns 14,634 shares in the company, valued at approximately $2,828,605.86. This represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,380 shares of company stock valued at $25,830,669. 21.91% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Paylocity

Several institutional investors and hedge funds have recently made changes to their positions in PCTY. UMB Bank n.a. boosted its position in shares of Paylocity by 1,650.0% in the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker's stock worth $29,000 after buying an additional 165 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Paylocity during the 4th quarter worth approximately $29,000. Prospera Private Wealth LLC purchased a new position in shares of Paylocity during the 3rd quarter worth approximately $39,000. Signaturefd LLC increased its stake in shares of Paylocity by 121.0% during the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker's stock worth $50,000 after purchasing an additional 167 shares in the last quarter. Finally, Quarry LP lifted its position in shares of Paylocity by 149.2% in the third quarter. Quarry LP now owns 309 shares of the software maker's stock valued at $51,000 after acquiring an additional 185 shares in the last quarter. 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.