Brokerages Set Paylocity Holding Co. (NASDAQ:PCTY) Price Target at $205.71

Shares of Paylocity Holding Co. (NASDAQ:PCTY) have received an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $205.21.

PCTY has been the subject of several research analyst reports. Piper Sandler boosted their target price on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. BMO Capital Markets raised 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. Needham & Company LLC raised 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. TD Cowen decreased their target price on Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Barclays increased their price target on Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $191.43 on Thursday. The firm has a market cap of $10.67 billion, a PE ratio of 48.96, a price-to-earnings-growth ratio of 4.93 and a beta of 0.93. The business has a 50 day moving average price of $202.46 and a two-hundred day moving average price of $172.42. 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 fifty-two week low of $129.94 and a fifty-two week high of $215.68.

Insider Activity at Paylocity

In other news, Director Jeffrey T. Diehl sold 29,606 shares of Paylocity stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $196.55, for a total transaction of $5,819,059.30. Following the transaction, the director now directly owns 11,755 shares in the company, valued at approximately $2,310,445.25. This trade represents a 71.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Nicholas Rost sold 212 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value 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. This trade represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 157,486 shares of company stock worth $31,751,368 over the last ninety days. 21.91% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Paylocity

Several hedge funds and other institutional investors have recently bought and sold shares of the business. UMB Bank n.a. raised its holdings in shares of Paylocity by 1,650.0% in the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after purchasing an additional 165 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of Paylocity in the third quarter valued at $39,000. Signaturefd LLC increased its holdings in shares of Paylocity by 121.0% in the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after buying an additional 167 shares in the last quarter. Quarry LP lifted its position in shares of Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after acquiring an additional 185 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Paylocity by 43.3% during the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock worth $77,000 after acquiring an additional 116 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

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.