Paylocity (NASDAQ:PCTY) Price Target Raised to $231.00 at Barclays

Paylocity (NASDAQ:PCTY - Get Free Report) had its price target lifted by Barclays from $214.00 to $231.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an "equal weight" rating on the software maker's stock. Barclays's price target indicates a potential upside of 10.46% from the stock's current price.

PCTY has been the subject of several other research reports. Citigroup upgraded shares of Paylocity from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $214.00 to $231.00 in a research note on Thursday, January 16th. 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. Piper Sandler reissued an "overweight" rating and issued a $254.00 price target (up previously from $212.00) on shares of Paylocity in a research report on Thursday, February 6th. StockNews.com raised shares of Paylocity from a "hold" rating to a "buy" rating in a research report on Saturday, December 7th. Finally, Raymond James reissued an "outperform" rating and issued a $265.00 price target (up previously from $215.00) on shares of Paylocity in a research report on Friday. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Paylocity currently has an average rating of "Moderate Buy" and an average target price of $233.25.

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Paylocity Trading Down 1.2 %

Shares of NASDAQ:PCTY traded down $2.48 during mid-day trading on Friday, hitting $209.13. The company had a trading volume of 325,352 shares, compared to its average volume of 531,743. The firm has a fifty day moving average price of $201.33 and a 200 day moving average price of $182.16. The company has a market capitalization of $11.66 billion, a PE ratio of 53.62, a price-to-earnings-growth ratio of 5.19 and a beta of 0.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. Paylocity has a one year low of $129.94 and a one year high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its quarterly earnings data 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%. As a group, research analysts forecast that Paylocity will post 4.46 EPS for the current year.

Insider Transactions at Paylocity

In other news, Director Jeffrey T. Diehl sold 4,513 shares of Paylocity stock in a transaction on Monday, November 25th. The stock was sold at an average price of $209.91, for a total transaction of $947,323.83. Following the sale, the director now directly owns 1,003 shares in the company, valued at $210,539.73. The trade was a 81.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven I. Sarowitz sold 2,600 shares of Paylocity stock in a transaction on Monday, December 30th. The stock was sold at an average price of $200.14, for a total value of $520,364.00. Following the sale, the director now owns 8,332,347 shares in the company, valued at $1,667,635,928.58. The trade was a 0.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,380 shares of company stock worth $25,830,669 in the last ninety days. Company insiders own 21.91% of the company's stock.

Institutional Investors Weigh In On Paylocity

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in Paylocity by 16,397.9% in the 3rd quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker's stock valued at $1,279,000 after acquiring an additional 7,707 shares during the period. Edgestream Partners L.P. raised its stake in Paylocity by 222.3% in the 3rd quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker's stock valued at $1,788,000 after acquiring an additional 7,475 shares during the period. Barclays PLC raised its stake in Paylocity by 14.3% in the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker's stock valued at $7,407,000 after acquiring an additional 5,609 shares during the period. Nisa Investment Advisors LLC raised its stake in Paylocity by 5,742.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker's stock valued at $1,165,000 after acquiring an additional 5,742 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Paylocity by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker's stock valued at $46,592,000 after acquiring an additional 4,697 shares during the period. 94.76% of the stock is currently owned by 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.