Paylocity Holding Corporation (NASDAQ:PCTY) Receives Average Rating of “Moderate Buy” from Analysts

Paylocity Holding Corporation (NASDAQ:PCTY) has been given an average recommendation of “Moderate Buy” by the twenty-one research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $180.05.

A number of equities research analysts have weighed in on the stock. Robert W. Baird set a $220.00 price target on shares of Paylocity in a report on Friday, February 6th. Stephens set a $160.00 target price on shares of Paylocity in a report on Friday, January 16th. Zacks Research raised Paylocity from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Mizuho reduced their price objective on Paylocity from $180.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, February 6th. Finally, Truist Financial decreased their target price on Paylocity from $240.00 to $180.00 and set a “buy” rating on the stock in a report on Friday, February 6th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Paylocity in the 4th quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Paylocity by 363.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker’s stock valued at $29,000 after purchasing an additional 149 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Paylocity in the fourth quarter worth $30,000. Advisory Services Network LLC purchased a new position in shares of Paylocity during the third quarter valued at $38,000. Finally, SBI Securities Co. Ltd. grew its holdings in shares of Paylocity by 47.4% during the second quarter. SBI Securities Co. Ltd. now owns 252 shares of the software maker’s stock valued at $46,000 after buying an additional 81 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Paylocity Trading Up 0.5%

Paylocity stock opened at $107.64 on Friday. Paylocity has a 12-month low of $101.39 and a 12-month high of $218.16. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $5.80 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 3.12 and a beta of 0.54. The firm has a 50 day simple moving average of $139.97 and a 200-day simple moving average of $152.64.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, February 5th. The software maker reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.28. Paylocity had a return on equity of 23.44% and a net margin of 14.19%.The firm had revenue of $416.13 million during the quarter, compared to analyst estimates of $408.37 million. During the same period last year, the company posted $1.52 EPS. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, equities research analysts expect that Paylocity will post 4.36 EPS for the current fiscal year.

About Paylocity

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.