Paylocity Holding Co. (NASDAQ:PCTY) Receives $213.86 Consensus PT from Analysts

Shares of Paylocity Holding Co. (NASDAQ:PCTY) have earned a consensus rating of “Moderate Buy” from the fourteen analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $213.86.

PCTY has been the topic of several analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price target on shares of Paylocity in a report on Wednesday, January 15th. Jefferies Financial Group increased 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. Mizuho upgraded Paylocity from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $200.00 to $235.00 in a research report on Friday, January 31st. Barclays upped their target price on shares of Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, KeyCorp lifted their price objective on Paylocity from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st.

Insider Buying and Selling

In other Paylocity news, SVP Andrew Cappotelli sold 247 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 $2,828,605.86. This represents a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven I. Sarowitz sold 12,226 shares of Paylocity stock in a transaction on Monday, November 18th. The stock was sold at an average price of $196.29, for a total transaction of $2,399,841.54. Following the transaction, the director now directly owns 9,300,847 shares of the company’s stock, valued at approximately $1,825,663,257.63. This trade represents a 0.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 127,380 shares of company stock worth $25,830,669. 21.91% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Paylocity

Institutional investors and hedge funds have recently bought and sold shares of the company. UMB Bank n.a. increased its stake in shares of Paylocity by 1,650.0% in the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after buying an additional 165 shares during the period. Prospera Private Wealth LLC bought a new stake in Paylocity in the third quarter valued at approximately $39,000. Signaturefd LLC increased its position in Paylocity by 121.0% during the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after purchasing an additional 167 shares during the period. Quarry LP raised its holdings in Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after purchasing an additional 185 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Paylocity by 43.3% in the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock worth $77,000 after purchasing an additional 116 shares during the period. Institutional investors own 94.76% of the company’s stock.

Paylocity Stock Performance

NASDAQ PCTY opened at $209.12 on Monday. The company’s fifty day moving average is $201.28 and its two-hundred day moving average is $180.54. 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 $11.66 billion, a price-to-earnings ratio of 53.48, a P/E/G ratio of 5.03 and a beta of 0.95. Paylocity has a 52-week low of $129.94 and a 52-week high of $215.68.

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.