Paylocity Holding Co. (NASDAQ:PCTY) Given Consensus Rating of “Moderate Buy” by Brokerages

Paylocity Holding Co. (NASDAQ:PCTY) has received an average rating of “Moderate Buy” from the fourteen research firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $205.71.

PCTY has been the subject of several research reports. Jefferies Financial Group increased their price objective on shares of Paylocity from $215.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Piper Sandler raised their price objective on Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. KeyCorp upped their target price on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Truist Financial lifted their price target on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Needham & Company LLC raised their price objective on shares of Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, October 31st.

Paylocity Stock Performance

Paylocity stock opened at $200.17 on Friday. The stock has a market cap of $11.16 billion, a PE ratio of 51.19, a P/E/G ratio of 5.00 and a beta of 0.92. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. Paylocity has a 12-month low of $129.94 and a 12-month high of $215.68. The business’s 50-day moving average price is $191.97 and its two-hundred day moving average price is $164.10.

Insider Buying and Selling

In other Paylocity 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 transaction of $107,142.14. Following the transaction, the senior vice president now directly owns 39,764 shares in the company, valued at approximately $6,474,772.12. This represents a 1.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 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. The trade was a 1.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 129,089 shares of company stock valued at $25,991,644 over the last quarter. Insiders own 21.91% of the company’s stock.

Institutional Trading of Paylocity

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of Paylocity by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock worth $173,053,000 after purchasing an additional 36,590 shares in the last quarter. Liontrust Investment Partners LLP grew its position in Paylocity by 27.1% in the 2nd quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock worth $106,840,000 after purchasing an additional 172,807 shares in the last quarter. Van Berkom & Associates Inc. grew its holdings in shares of Paylocity by 20.5% in the second quarter. Van Berkom & Associates Inc. now owns 579,801 shares of the software maker’s stock valued at $76,447,000 after acquiring an additional 98,478 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Paylocity by 3.5% during the 3rd quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker’s stock valued at $85,444,000 after purchasing an additional 17,560 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Paylocity by 4.7% during the second quarter. Bank of New York Mellon Corp now owns 472,686 shares of the software maker’s stock worth $62,324,000 after buying an additional 21,127 shares during the last quarter. 94.76% of the stock is owned by institutional investors.

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.