StockNews.com cut shares of Paylocity (NASDAQ:PCTY - Free Report) from a buy rating to a hold rating in a report published on Monday morning.
A number of other analysts have also commented on the stock. Needham & Company LLC boosted their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. KeyCorp boosted their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. JMP Securities boosted their price objective on shares of Paylocity from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research report on Friday, February 7th. Stifel Nicolaus boosted their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Finally, Mizuho raised shares of Paylocity from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $200.00 to $235.00 in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $233.25.
Check Out Our Latest Analysis on PCTY
Paylocity Stock Down 0.1 %
Shares of Paylocity stock traded down $0.29 on Monday, hitting $217.27. The company had a trading volume of 340,980 shares, compared to its average volume of 514,511. The firm has a market capitalization of $12.11 billion, a P/E ratio of 55.71, a P/E/G ratio of 5.19 and a beta of 0.95. Paylocity has a twelve month low of $129.94 and a twelve month high of $223.80. 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 stock has a 50-day moving average of $201.72 and a 200-day moving average of $183.04.
Paylocity (NASDAQ:PCTY - Get Free Report) last released its quarterly earnings results 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 net margin of 14.76% and a return on equity of 22.93%. Research analysts predict that Paylocity will post 4.46 earnings per share for the current year.
Insider Activity
In other news, CAO Nicholas Rost sold 212 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $40,977.48. Following the transaction, the chief accounting officer now directly owns 7,364 shares of the company's stock, valued at $1,423,387.56. This represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Andrew Cappotelli sold 247 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total transaction of $47,742.63. Following the completion of the transaction, the senior vice president now directly owns 14,634 shares in the company, valued at $2,828,605.86. The trade was a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 126,434 shares of company stock valued at $25,636,985 over the last ninety days. 21.91% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Paylocity
Several institutional investors and hedge funds have recently modified their holdings of the business. Aquatic Capital Management LLC acquired a new position in shares of Paylocity in the fourth quarter valued at about $1,477,000. Johnson Financial Group Inc. acquired a new position in shares of Paylocity in the fourth quarter valued at about $72,000. Nebula Research & Development LLC grew its stake in shares of Paylocity by 84.8% in the fourth quarter. Nebula Research & Development LLC now owns 8,730 shares of the software maker's stock valued at $1,741,000 after acquiring an additional 4,005 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in shares of Paylocity in the fourth quarter valued at about $9,974,000. Finally, MGO One Seven LLC acquired a new position in shares of Paylocity in the fourth quarter valued at about $272,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.
About Paylocity
(
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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.
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