Paylocity Holding Corporation (NASDAQ:PCTY) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Paylocity Holding Corporation (NASDAQ:PCTY) have received a consensus recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $151.1176.

PCTY has been the topic of several research reports. Barclays raised their price objective on Paylocity from $120.00 to $128.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Citigroup upped their target price on Paylocity from $133.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Raymond James Financial set a $140.00 target price on Paylocity in a research note on Friday, May 8th. BMO Capital Markets raised their target price on Paylocity from $135.00 to $143.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Finally, Robert W. Baird set a $193.00 target price on Paylocity in a report on Friday, May 8th.

Insider Transactions at Paylocity

In other news, SVP Andrew Cappotelli sold 899 shares of Paylocity stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $115.05, for a total transaction of $103,429.95. Following the sale, the senior vice president owned 17,679 shares in the company, valued at $2,033,968.95. This trade represents a 4.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PCTY. State of Michigan Retirement System increased its holdings in Paylocity by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 10,472 shares of the software maker’s stock valued at $1,131,000 after purchasing an additional 100 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Paylocity by 3.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,419 shares of the software maker’s stock valued at $521,000 after purchasing an additional 106 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Paylocity by 35.0% in the second quarter. Smartleaf Asset Management LLC now owns 428 shares of the software maker’s stock worth $77,000 after purchasing an additional 111 shares in the last quarter. State of Wyoming boosted its stake in Paylocity by 16.0% in the first quarter. State of Wyoming now owns 861 shares of the software maker’s stock worth $93,000 after purchasing an additional 119 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Paylocity by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 7,382 shares of the software maker’s stock worth $1,126,000 after purchasing an additional 122 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Paylocity Stock Performance

NASDAQ:PCTY opened at $126.00 on Monday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 26.87 and a beta of 0.52. The firm’s fifty day simple moving average is $111.40 and its 200 day simple moving average is $115.80. Paylocity has a twelve month low of $92.99 and a twelve month high of $197.78.

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.