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

Paylocity Holding Co. (NASDAQ:PCTY) has earned an average recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $196.64.

A number of brokerages have commented on PCTY. Jefferies Financial Group upped their price target on shares of Paylocity from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. StockNews.com lowered Paylocity from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Truist Financial boosted 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. Barclays lifted their price objective on shares of Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Finally, JMP Securities restated a “market outperform” rating and issued a $250.00 price target on shares of Paylocity in a report on Monday, August 5th.

Insider Activity

In related news, Director Jeffrey T. Diehl sold 946 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $204.74, for a total transaction of $193,684.04. Following the transaction, the director now directly owns 1,767 shares of the company’s stock, valued at $361,775.58. This trade represents a 34.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $107,142.14. Following the completion of the sale, the senior vice president now directly owns 39,764 shares of the company’s stock, valued at $6,474,772.12. The trade was a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,842 shares of company stock worth $6,243,313 over the last 90 days. 21.91% of the stock is currently owned by corporate insiders.

Institutional Trading of Paylocity

A number of hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its position in shares of Paylocity by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock valued at $1,518,176,000 after purchasing an additional 278,607 shares during the last quarter. Geode Capital Management LLC increased its holdings in Paylocity by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock worth $173,053,000 after buying an additional 36,590 shares during the last quarter. Liontrust Investment Partners LLP raised its position in Paylocity by 27.1% in the second quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock worth $106,840,000 after acquiring an additional 172,807 shares during the period. Van Berkom & Associates Inc. grew its position in shares of Paylocity by 20.5% during the 2nd 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 during the period. Finally, Janus Henderson Group PLC increased its stake 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 worth $85,444,000 after purchasing an additional 17,560 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors.

Paylocity Stock Performance

NASDAQ:PCTY opened at $194.78 on Wednesday. The company has a market capitalization of $10.86 billion, a PE ratio of 49.82, a P/E/G ratio of 4.96 and a beta of 0.93. Paylocity has a fifty-two week low of $129.94 and a fifty-two week high of $215.68. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The company has a 50 day simple moving average of $175.69 and a two-hundred day simple moving average of $158.89.

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.