Paylocity (NASDAQ:PCTY) Given New $270.00 Price Target at JMP Securities

Paylocity (NASDAQ:PCTY - Free Report) had its price objective raised by JMP Securities from $250.00 to $270.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a market outperform rating on the software maker's stock.

Other research analysts have also issued reports about the stock. StockNews.com upgraded shares of Paylocity from a "hold" rating to a "buy" rating in a research note on Saturday, December 7th. UBS Group raised their price objective on shares of Paylocity from $211.00 to $220.00 and gave the stock a "neutral" rating in a report on Friday. Jefferies Financial Group raised their price objective on shares of Paylocity from $215.00 to $240.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Stifel Nicolaus raised their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a report on Friday. Finally, Barclays raised their price objective on shares of Paylocity from $174.00 to $180.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Paylocity currently has an average rating of "Moderate Buy" and an average target price of $233.25.

Remove Ads

Paylocity Trading Down 0.7 %

NASDAQ PCTY traded down $1.49 during trading on Friday, hitting $210.13. The company had a trading volume of 195,985 shares, compared to its average volume of 526,323. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. The company's fifty day moving average is $201.28 and its 200-day moving average is $181.70. The company 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 has a one year low of $129.94 and a one year high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a return on equity of 22.93% and a net margin of 14.76%. On average, sell-side analysts predict that Paylocity will post 4.46 earnings per share for the current year.

Insider Activity

In related news, SVP Andrew Cappotelli sold 247 shares of the business's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $47,742.63. Following the sale, the senior vice president now owns 14,634 shares in the company, valued at approximately $2,828,605.86. The trade was a 1.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven I. Sarowitz sold 15,444 shares of the business's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $195.43, for a total transaction of $3,018,220.92. Following the completion of the sale, the director now owns 9,272,906 shares in the company, valued at $1,812,204,019.58. This represents a 0.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,380 shares of company stock worth $25,830,669 over the last quarter. Insiders own 21.91% of the company's stock.

Institutional Investors Weigh In On Paylocity

Large investors have recently bought and sold shares of the business. International Assets Investment Management LLC increased its position in Paylocity by 16,397.9% in the third quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker's stock worth $1,279,000 after purchasing an additional 7,707 shares during the last quarter. Edgestream Partners L.P. boosted its stake in Paylocity by 222.3% during the third quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker's stock worth $1,788,000 after buying an additional 7,475 shares during the period. Barclays PLC boosted its stake in Paylocity by 14.3% during the third quarter. Barclays PLC now owns 44,897 shares of the software maker's stock worth $7,407,000 after buying an additional 5,609 shares during the period. Nisa Investment Advisors LLC boosted its stake in Paylocity by 5,742.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker's stock worth $1,165,000 after buying an additional 5,742 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Paylocity by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker's stock worth $46,592,000 after buying an additional 4,697 shares during the period. 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.