Paylocity Holding Corporation (NASDAQ:PCTY) Receives $160.00 Average PT from Brokerages

Shares of Paylocity Holding Corporation (NASDAQ:PCTY) have earned an average recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $160.00.

A number of research firms recently commented on PCTY. Jefferies Financial Group reiterated a “buy” rating and issued a $165.00 target price on shares of Paylocity in a report on Wednesday. Citigroup restated a “buy” rating on shares of Paylocity in a research report on Thursday. Zacks Research cut Paylocity from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Citizens Jmp cut their price objective on Paylocity from $170.00 to $150.00 and set a “market outperform” rating for the company in a research report on Friday, May 8th. Finally, UBS Group raised their price objective on Paylocity from $122.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd.

Insider Activity at Paylocity

In related news, SVP Andrew Cappotelli sold 899 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $115.05, for a total value of $103,429.95. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Paylocity

Hedge funds have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Paylocity by 5.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,388 shares of the software maker’s stock valued at $25,551,000 after acquiring an additional 7,594 shares during the period. Focus Partners Wealth boosted its stake in Paylocity by 24.5% in the 1st quarter. Focus Partners Wealth now owns 1,365 shares of the software maker’s stock worth $256,000 after purchasing an additional 269 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Paylocity by 537.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 465 shares of the software maker’s stock worth $84,000 after purchasing an additional 392 shares during the period. Marshall Wace LLP grew its position in Paylocity by 2,782.7% during the 2nd quarter. Marshall Wace LLP now owns 35,688 shares of the software maker’s stock worth $6,466,000 after purchasing an additional 34,450 shares in the last quarter. Finally, Cerity Partners LLC grew its position in Paylocity by 10.0% during the 2nd quarter. Cerity Partners LLC now owns 19,241 shares of the software maker’s stock worth $3,486,000 after purchasing an additional 1,749 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Paylocity Stock Performance

Shares of NASDAQ PCTY opened at $150.42 on Friday. Paylocity has a 1 year low of $92.99 and a 1 year high of $184.00. The firm has a market cap of $7.98 billion, a P/E ratio of 30.39 and a beta of 0.47. The stock has a fifty day moving average price of $119.10 and a two-hundred day moving average price of $114.53. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.22. The company had revenue of $444.73 million for the quarter, compared to the consensus estimate of $431.46 million. Paylocity had a return on equity of 27.02% and a net margin of 15.23%.The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.56 EPS. Research analysts forecast that Paylocity will post 6.33 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.