Paylocity Holding Co. (NASDAQ:PCTY) Receives Average Rating of “Moderate Buy” from Brokerages

Paylocity Holding Co. (NASDAQ:PCTY) has received an average recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $233.25.

Several analysts have recently commented on the stock. Stifel Nicolaus lifted their price target on shares of Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Piper Sandler reaffirmed an “overweight” rating and set a $254.00 price objective (up previously from $212.00) on shares of Paylocity in a research report on Thursday, February 6th. Barclays increased their price objective on shares of Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. UBS Group raised their price objective on shares of Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Finally, JMP Securities boosted their target price on Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a report on Friday, February 7th.

Paylocity Price Performance

NASDAQ:PCTY opened at $196.16 on Tuesday. The firm has a market cap of $10.96 billion, a price-to-earnings ratio of 50.30, a PEG ratio of 4.49 and a beta of 0.94. Paylocity has a one year low of $129.94 and a one year high of $223.80. The firm’s fifty day moving average is $201.56 and its two-hundred day moving average is $191.74. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. Research analysts expect that Paylocity will post 4.36 EPS for the current year.

Insider Activity at Paylocity

In related news, Director Steven I. Sarowitz sold 2,600 shares of Paylocity stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $200.14, for a total value of $520,364.00. Following the sale, the director now directly owns 8,332,347 shares in the company, valued at $1,667,635,928.58. This trade represents a 0.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 28,926 shares of company stock worth $5,578,628 in the last 90 days. 21.91% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Paylocity

Large investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in Paylocity in the 4th quarter worth approximately $29,000. UMB Bank n.a. boosted its position in Paylocity by 41.1% during the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock worth $49,000 after acquiring an additional 72 shares during the period. Quarry LP grew its stake in shares of Paylocity by 149.2% in the third quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after purchasing an additional 185 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Paylocity by 489.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $54,000 after purchasing an additional 225 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Paylocity by 29.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock valued at $55,000 after purchasing an additional 63 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

About Paylocity

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.