Paylocity (NASDAQ:PCTY) Price Target Raised to $270.00 at JMP Securities

Paylocity (NASDAQ:PCTY) had its target price lifted by JMP Securities from $250.00 to $270.00 in a research note released on Friday morning,Benzinga reports. They currently have a market outperform rating on the software maker’s stock.

Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus boosted their price target on shares of Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Friday. StockNews.com raised shares of Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday, December 7th. Mizuho raised Paylocity from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $200.00 to $235.00 in a research report on Friday, January 31st. Piper Sandler reissued an “overweight” rating and set a $254.00 target price (up from $212.00) on shares of Paylocity in a research note on Thursday. Finally, KeyCorp boosted their price objective on Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $233.25.

Paylocity Price Performance

Shares of PCTY stock opened at $205.84 on Friday. The firm’s 50-day moving average is $201.32 and its two-hundred day moving average is $180.76. The company has a market capitalization of $11.48 billion, a PE ratio of 52.78, a price-to-earnings-growth ratio of 5.19 and a beta of 0.95. 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 has a 12 month low of $129.94 and a 12 month high of $223.80.

Paylocity (NASDAQ:PCTY) last posted its 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%. Analysts predict that Paylocity will post 4.46 earnings per share for the current year.

Insider Activity at Paylocity

In other Paylocity news, Director Jeffrey T. Diehl sold 946 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $204.74, for a total value of $193,684.04. Following the completion of the sale, the director now owns 1,767 shares in the company, valued at approximately $361,775.58. The trade was a 34.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Andrew Cappotelli sold 247 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 14,634 shares of the company’s stock, valued at $2,828,605.86. The trade was a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,380 shares of company stock valued at $25,830,669 over the last ninety days. Insiders own 21.91% of the company’s stock.

Institutional Trading of Paylocity

Several institutional investors and hedge funds have recently bought and sold shares of PCTY. UMB Bank n.a. increased its stake in 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 purchasing an additional 165 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Paylocity during the fourth quarter worth about $29,000. Prospera Private Wealth LLC acquired a new position in Paylocity in the 3rd quarter valued at about $39,000. Signaturefd LLC raised its stake 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 acquiring an additional 167 shares during the last quarter. Finally, Quarry LP lifted its holdings in shares of Paylocity by 149.2% during the third quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after purchasing an additional 185 shares during the period. Hedge funds and other 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.