Paylocity (NASDAQ:PCTY) Price Target Raised to $250.00

Paylocity (NASDAQ:PCTY - Get Free Report) had its price target raised by equities research analysts at Stifel Nicolaus from $220.00 to $250.00 in a report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the software maker's stock. Stifel Nicolaus' price objective points to a potential upside of 18.98% from the company's previous close.

PCTY has been the subject of several other research reports. TD Cowen reduced their price target on shares of Paylocity from $235.00 to $228.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Barclays raised their price target on shares of Paylocity from $174.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. Citigroup upgraded Paylocity from a "neutral" rating to a "buy" rating and upped their price objective for the company from $214.00 to $231.00 in a research note on Thursday, January 16th. Jefferies Financial Group raised their target price on Paylocity from $215.00 to $240.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Finally, BMO Capital Markets increased their price target on Paylocity from $175.00 to $203.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Paylocity has a consensus rating of "Moderate Buy" and a consensus target price of $233.25.

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Paylocity Stock Down 0.7 %

Shares of NASDAQ:PCTY traded down $1.49 during trading on Friday, reaching $210.13. 195,985 shares of the stock were exchanged, compared to its average volume of 526,323. Paylocity has a 1-year low of $129.94 and a 1-year high of $223.80. The stock has a fifty day moving average of $201.28 and a two-hundred day moving average of $181.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market cap of $11.71 billion, a price-to-earnings ratio of 53.88, a price-to-earnings-growth ratio of 5.19 and a beta of 0.95.

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 (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%. Research analysts anticipate that Paylocity will post 4.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 12,226 shares of the firm's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $196.29, for a total transaction of $2,399,841.54. Following the sale, the director now owns 9,300,847 shares in the company, valued at $1,825,663,257.63. This trade represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Nicholas Rost sold 212 shares of the company's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total value of $40,977.48. Following the completion of the transaction, the chief accounting officer now owns 7,364 shares of the company's stock, valued at $1,423,387.56. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,380 shares of company stock valued at $25,830,669 in the last 90 days. Corporate insiders own 21.91% of the company's stock.

Hedge Funds Weigh In On Paylocity

A number of large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its stake in shares of Paylocity by 16,397.9% during the third quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker's stock valued at $1,279,000 after buying an additional 7,707 shares during the last quarter. Edgestream Partners L.P. grew its position in Paylocity by 222.3% during the 3rd quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker's stock worth $1,788,000 after acquiring an additional 7,475 shares during the last quarter. Barclays PLC increased its stake in Paylocity by 14.3% in the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker's stock worth $7,407,000 after purchasing an additional 5,609 shares during the period. Nisa Investment Advisors LLC lifted its position in Paylocity by 5,742.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker's stock valued at $1,165,000 after purchasing an additional 5,742 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Paylocity by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker's stock valued at $46,592,000 after purchasing an additional 4,697 shares during the period. Hedge funds and other institutional investors 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.