Paylocity (NASDAQ:PCTY) Price Target Raised to $200.00

Paylocity (NASDAQ:PCTY) had its price target hoisted by Mizuho from $180.00 to $200.00 in a research report released on Friday,Benzinga reports. Mizuho currently has a neutral rating on the software maker’s stock.

Other equities analysts also recently issued reports about the stock. KeyCorp boosted their target price on shares of Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Needham & Company LLC boosted their target price on shares of Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Truist Financial boosted 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. StockNews.com upgraded shares of Paylocity from a “hold” rating to a “buy” rating in a report on Saturday, December 7th. Finally, Barclays boosted their target price on shares of Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.71.

Paylocity Price Performance

NASDAQ PCTY opened at $200.17 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. Paylocity has a 12-month low of $129.94 and a 12-month high of $215.68. The company has a market capitalization of $11.16 billion, a PE ratio of 51.19, a price-to-earnings-growth ratio of 5.00 and a beta of 0.92. The firm’s 50 day moving average is $191.97 and its 200-day moving average is $164.21.

Insiders Place Their Bets

In other news, SVP Rachit Lohani sold 658 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total value of $107,142.14. Following the completion of the sale, the senior vice president now owns 39,764 shares of the company’s stock, valued at approximately $6,474,772.12. The trade was a 1.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven I. Sarowitz sold 10,237 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 9,214,115 shares of the company’s stock, valued at approximately $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 129,089 shares of company stock valued at $25,991,644 over the last ninety days. 21.91% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Paylocity

Institutional investors and hedge funds have recently bought and sold shares of the company. UMB Bank n.a. lifted its position in Paylocity by 1,650.0% during the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after purchasing an additional 165 shares during the period. Prospera Private Wealth LLC bought a new stake in Paylocity in the third quarter valued at approximately $39,000. Rothschild Investment LLC bought a new position in shares of Paylocity during the 2nd quarter worth approximately $40,000. Signaturefd LLC boosted its holdings in shares of Paylocity by 121.0% during the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after buying an additional 167 shares in the last quarter. Finally, Quarry LP boosted its holdings in shares of Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after buying an additional 185 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

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.