Paylocity Holding Co. (NASDAQ:PCTY) Receives $205.71 Consensus Target Price from Analysts

Shares of Paylocity Holding Co. (NASDAQ:PCTY) have been assigned an average rating of “Moderate Buy” from the fourteen ratings firms that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $205.71.

PCTY has been the topic of several recent research reports. Jefferies Financial Group upped their price target on shares of Paylocity from $215.00 to $240.00 and gave the company a “buy” rating in a report on Monday, December 9th. BMO Capital Markets upped their target price on Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. StockNews.com upgraded Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday, December 7th. Truist Financial upped their price objective on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Piper Sandler lifted their target price on shares of Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a report on Thursday, October 31st.

Paylocity Stock Up 0.1 %

PCTY stock opened at $203.08 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. The firm’s fifty day simple moving average is $192.71 and its 200-day simple moving average is $164.61. Paylocity has a 12 month low of $129.94 and a 12 month high of $215.68. The company has a market capitalization of $11.32 billion, a P/E ratio of 51.93, a price-to-earnings-growth ratio of 4.93 and a beta of 0.92.

Insider Activity

In other news, SVP Rachit Lohani sold 658 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total value of $107,142.14. Following the transaction, the senior vice president now owns 39,764 shares in the company, valued at $6,474,772.12. This trade represents a 1.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Andrew Cappotelli sold 247 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total value of $47,742.63. Following the sale, the senior vice president now owns 14,634 shares of the company’s stock, valued at $2,828,605.86. The trade was a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 139,710 shares of company stock worth $28,124,978 over the last 90 days. 21.91% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Paylocity

A number of hedge funds have recently modified their holdings of PCTY. Lord Abbett & CO. LLC grew its stake in Paylocity by 3.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 287,264 shares of the software maker’s stock valued at $47,389,000 after acquiring an additional 8,878 shares in the last quarter. Tidal Investments LLC grew its position in shares of Paylocity by 207.0% in the third quarter. Tidal Investments LLC now owns 8,836 shares of the software maker’s stock valued at $1,458,000 after purchasing an additional 5,958 shares in the last quarter. Coldstream Capital Management Inc. acquired a new stake in shares of Paylocity in the third quarter valued at approximately $239,000. Geode Capital Management LLC lifted its position in Paylocity by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock worth $173,053,000 after buying an additional 36,590 shares in the last quarter. Finally, Vestcor Inc boosted its stake in Paylocity by 943.8% during the third quarter. Vestcor Inc now owns 10,000 shares of the software maker’s stock worth $1,650,000 after buying an additional 9,042 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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.