Paylocity's (PCTY) Outperform Rating Reiterated at Raymond James

Paylocity (NASDAQ:PCTY - Get Free Report)'s stock had its "outperform" rating reissued by Raymond James in a research report issued on Friday,Benzinga reports. They currently have a $265.00 price target on the software maker's stock, up from their previous price target of $215.00. Raymond James' price target would indicate a potential upside of 26.12% from the stock's previous close.

Several other equities analysts also recently issued reports on the stock. StockNews.com upgraded shares of Paylocity from a "hold" rating to a "buy" rating in a report on Saturday, December 7th. BMO Capital Markets upped their price objective on shares of Paylocity from $175.00 to $203.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. KeyCorp upped their price objective on shares of Paylocity from $220.00 to $250.00 and gave the company an "overweight" rating in a report on Friday. JMP Securities upped their price objective on shares of Paylocity from $250.00 to $270.00 and gave the company a "market outperform" rating in a report on Friday. Finally, Jefferies Financial Group upped their target price on Paylocity from $215.00 to $240.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $233.25.

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Paylocity Stock Down 0.7 %

Paylocity stock traded down $1.49 during trading hours on Friday, reaching $210.13. The stock had a trading volume of 195,985 shares, compared to its average volume of 526,323. The company has a market cap of $11.71 billion, a price-to-earnings ratio of 53.88, a PEG 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. The business's 50 day moving average price is $201.28 and its 200-day moving average price is $181.70. Paylocity has a 52 week low of $129.94 and a 52 week high of $223.80.

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 return on equity of 22.93% and a net margin of 14.76%. Sell-side analysts anticipate that Paylocity will post 4.46 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Andrew Cappotelli sold 247 shares of the 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 $2,828,605.86. This trade represents a 1.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven I. Sarowitz sold 15,444 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $195.43, for a total value of $3,018,220.92. Following the transaction, the director now owns 9,272,906 shares in the company, valued at $1,812,204,019.58. This trade represents a 0.17 % 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 worth $25,830,669. Corporate insiders own 21.91% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Paylocity by 0.5% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker's stock worth $1,916,000 after acquiring an additional 49 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Paylocity by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker's stock worth $273,000 after acquiring an additional 58 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in shares of Paylocity by 29.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock worth $55,000 after acquiring an additional 63 shares during the period. UMB Bank n.a. raised its holdings in shares of Paylocity by 41.1% during the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock worth $49,000 after acquiring an additional 72 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Paylocity by 2.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,156 shares of the software maker's stock worth $630,000 after acquiring an additional 77 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.