Paylocity (NASDAQ:PCTY) Given New $250.00 Price Target at Stifel Nicolaus

Paylocity (NASDAQ:PCTY) had its target price upped by Stifel Nicolaus from $220.00 to $250.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

Other analysts have also issued research reports about the stock. BMO Capital Markets raised their price target on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Jefferies Financial Group raised their price target on shares of Paylocity from $215.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Truist Financial lifted their target price on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, November 1st. KeyCorp lifted their target price on shares of Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday. Finally, StockNews.com upgraded shares of Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday, December 7th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Paylocity presently has an average rating of “Moderate Buy” and an average price target of $233.25.

Paylocity Stock Down 2.9 %

NASDAQ:PCTY opened at $205.84 on Friday. The firm has a market capitalization of $11.48 billion, a P/E ratio of 52.78, a PEG ratio of 5.19 and a beta of 0.95. Paylocity has a 1-year low of $129.94 and a 1-year high of $223.80. The company’s fifty day moving average price is $201.28 and its 200-day moving average price is $181.43. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share 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%. As a group, equities research analysts anticipate that Paylocity will post 4.46 EPS for the current year.

Insiders Place Their Bets

In other Paylocity news, Director Steven I. Sarowitz sold 10,237 shares of Paylocity stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $210.10, for a total transaction of $2,150,793.70. Following the transaction, the director now directly owns 9,214,115 shares of the company’s stock, valued at $1,935,885,561.50. The trade was a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andrew Cappotelli sold 247 shares of Paylocity stock in a transaction dated 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 directly owns 14,634 shares in the company, valued at $2,828,605.86. This trade represents a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,380 shares of company stock valued at $25,830,669 over the last ninety days. Company insiders own 21.91% of the company’s stock.

Institutional Investors Weigh In On Paylocity

Institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC raised its stake in shares of Paylocity by 16,397.9% in the 3rd quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock valued at $1,279,000 after acquiring an additional 7,707 shares during the period. Edgestream Partners L.P. raised its stake in shares of Paylocity by 222.3% in the 3rd quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock valued at $1,788,000 after acquiring an additional 7,475 shares during the period. Barclays PLC raised its stake in shares of Paylocity by 14.3% in the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock valued at $7,407,000 after acquiring an additional 5,609 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Paylocity by 5,742.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker’s stock valued at $1,165,000 after acquiring an additional 5,742 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Paylocity by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker’s stock valued at $46,592,000 after acquiring an additional 4,697 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

About Paylocity

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.