Paylocity (NASDAQ:PCTY - Get Free Report) had its price target lifted by analysts at Mizuho from $180.00 to $200.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the software maker's stock. Mizuho's price objective indicates a potential downside of 0.08% from the stock's current price.
PCTY has been the topic of a number of other reports. Needham & Company LLC upped their price target on Paylocity from $200.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Jefferies Financial Group lifted their target price on Paylocity from $215.00 to $240.00 and gave the company a "buy" rating in a research report on Monday. Barclays raised their price objective on shares of Paylocity from $174.00 to $180.00 and gave the company an "equal weight" rating in a research note on Thursday, October 31st. Truist Financial increased their target price on shares of Paylocity from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Finally, KeyCorp boosted their price target on shares of Paylocity from $187.00 to $210.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $205.71.
Read Our Latest Stock Report on PCTY
Paylocity Trading Down 2.2 %
Shares of PCTY traded down $4.42 during trading on Friday, reaching $200.17. 364,220 shares of the company traded hands, compared to its average volume of 491,655. The stock has a 50-day simple moving average of $191.37 and a 200-day simple moving average of $163.69. The stock has a market cap of $11.16 billion, a PE ratio of 52.32, a price-to-earnings-growth ratio of 5.00 and a beta of 0.92. Paylocity has a twelve month low of $129.94 and a twelve month high of $215.68. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29.
Insider Activity
In other news, SVP Rachit Lohani sold 658 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total value of $107,142.14. Following the completion of the sale, the senior vice president now directly owns 39,764 shares of the company's stock, valued at approximately $6,474,772.12. This represents a 1.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Andrew Cappotelli sold 247 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total transaction of $47,742.63. Following the transaction, the senior vice president now owns 14,634 shares in the company, valued at approximately $2,828,605.86. This trade represents a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 129,089 shares of company stock worth $25,991,644. Corporate insiders own 21.91% of the company's stock.
Hedge Funds Weigh In On Paylocity
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC increased its stake in Paylocity by 103.3% in the 2nd quarter. CWM LLC now owns 557 shares of the software maker's stock valued at $73,000 after buying an additional 283 shares during the period. SG Americas Securities LLC raised its holdings in Paylocity by 2.9% during the second quarter. SG Americas Securities LLC now owns 5,843 shares of the software maker's stock worth $770,000 after purchasing an additional 162 shares in the last quarter. Washington Capital Management Inc. lifted its position in Paylocity by 62.6% in the second quarter. Washington Capital Management Inc. now owns 5,530 shares of the software maker's stock valued at $729,000 after purchasing an additional 2,130 shares during the period. Neo Ivy Capital Management acquired a new stake in Paylocity in the second quarter valued at about $3,014,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Paylocity by 26,132.2% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 15,477 shares of the software maker's stock valued at $2,046,000 after purchasing an additional 15,418 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.
About Paylocity
(
Get Free Report)
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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