Paylocity Holding Co. (NASDAQ:PCTY) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Paylocity Holding Co. (NASDAQ:PCTY) have received a consensus recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $205.71.

Several research analysts have issued reports on PCTY shares. BMO Capital Markets increased their price objective on Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Truist Financial upped their target price on shares of Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Barclays lifted their price target on shares of Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Piper Sandler upped their price objective on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group raised 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.

Insider Buying and Selling

In other Paylocity news, CAO Nicholas Rost sold 212 shares of Paylocity stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total transaction of $40,977.48. Following the completion of the sale, the chief accounting officer now owns 7,364 shares of the company’s stock, valued at approximately $1,423,387.56. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven I. Sarowitz sold 10,237 shares of the company’s stock in a transaction on 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 sale, the director now 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 position. The disclosure for this sale can be found here. Insiders sold a total of 151,193 shares of company stock worth $30,460,258 over the last three months. 21.91% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Paylocity

Institutional investors have recently modified their holdings of the stock. CWM LLC increased its stake in Paylocity by 103.3% in the second quarter. CWM LLC now owns 557 shares of the software maker’s stock valued at $73,000 after purchasing an additional 283 shares in the last quarter. SG Americas Securities LLC raised its stake in Paylocity by 2.9% during the 2nd quarter. SG Americas Securities LLC now owns 5,843 shares of the software maker’s stock worth $770,000 after buying an additional 162 shares during the period. Washington Capital Management Inc. lifted its holdings in Paylocity by 62.6% during the second quarter. Washington Capital Management Inc. now owns 5,530 shares of the software maker’s stock worth $729,000 after acquiring an additional 2,130 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Paylocity in the second quarter valued at about $3,014,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Paylocity by 26,132.2% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 15,477 shares of the software maker’s stock worth $2,046,000 after acquiring an additional 15,418 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Trading Up 0.9 %

Shares of PCTY opened at $196.20 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. The stock has a market cap of $10.94 billion, a PE ratio of 50.18, a PEG ratio of 4.93 and a beta of 0.92. Paylocity has a 1 year low of $129.94 and a 1 year high of $215.68. The stock has a 50 day simple moving average of $194.82 and a 200-day simple moving average of $165.46.

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.