Paylocity (NASDAQ:PCTY) Downgraded to Hold Rating by StockNews.com

Paylocity (NASDAQ:PCTY) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other brokerages also recently weighed in on PCTY. Barclays lifted their target price on Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Mizuho upped their price objective on Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. BMO Capital Markets upped their price objective on Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Piper Sandler upped their price objective on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Truist Financial boosted their target price on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $196.64.

Paylocity Price Performance

PCTY stock opened at $211.16 on Friday. 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 firm has a market capitalization of $11.77 billion, a P/E ratio of 54.01, a P/E/G ratio of 5.30 and a beta of 0.93. The business’s 50-day moving average is $170.00 and its two-hundred day moving average is $156.71. Paylocity has a 1 year low of $129.94 and a 1 year high of $213.98.

Insiders Place Their Bets

In other Paylocity news, Director Jeffrey T. Diehl sold 29,606 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $196.55, for a total transaction of $5,819,059.30. Following the completion of the sale, the director now directly owns 11,755 shares in the company, valued at $2,310,445.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Paylocity news, Director Jeffrey T. Diehl sold 29,606 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $196.55, for a total transaction of $5,819,059.30. Following the completion of the sale, the director now directly owns 11,755 shares in the company, valued at $2,310,445.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Rachit Lohani sold 658 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total value of $107,142.14. Following the sale, the senior vice president now owns 39,764 shares of the company’s stock, valued at $6,474,772.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,896 shares of company stock worth $6,049,629 over the last three months. 21.91% of the stock is owned by insiders.

Institutional Investors Weigh In On Paylocity

A number of large investors have recently modified their holdings of the stock. UMB Bank n.a. grew its stake in Paylocity by 1,650.0% during the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after purchasing an additional 165 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Paylocity during the 3rd quarter valued at approximately $39,000. Rothschild Investment LLC bought a new position in Paylocity during the 2nd quarter worth approximately $40,000. J.Safra Asset Management Corp lifted its holdings in Paylocity by 80.0% during the 1st quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock worth $42,000 after buying an additional 108 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in Paylocity by 121.0% during the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after buying an additional 167 shares during the last quarter. Institutional investors and hedge funds 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.