Shares of Paylocity Holding Co. (NASDAQ:PCTY – Get Rating) have received a consensus recommendation of “Buy” from the eighteen ratings firms that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $259.25.
A number of research analysts recently commented on PCTY shares. Citigroup started coverage on Paylocity in a research report on Tuesday, February 1st. They issued a “buy” rating and a $230.00 price target on the stock. Piper Sandler upgraded Paylocity from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $244.00 to $249.00 in a research report on Friday, February 4th. Mizuho decreased their price target on Paylocity from $250.00 to $185.00 in a research report on Friday, January 28th. KeyCorp decreased their price target on Paylocity from $325.00 to $225.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 25th. Finally, StockNews.com assumed coverage on Paylocity in a research report on Thursday, March 31st. They issued a “hold” rating on the stock.
PCTY stock opened at $200.35 on Friday. The stock has a market capitalization of $11.04 billion, a price-to-earnings ratio of 126.80 and a beta of 1.31. The business’s fifty day moving average price is $203.17 and its two-hundred day moving average price is $232.86. Paylocity has a fifty-two week low of $154.26 and a fifty-two week high of $314.49.
In other news, Director Steven I. Sarowitz sold 22,091 shares of Paylocity stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $198.99, for a total transaction of $4,395,888.09. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven I. Sarowitz sold 47,120 shares of Paylocity stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $203.10, for a total value of $9,570,072.00. The disclosure for this sale can be found here. Company insiders own 28.80% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Paylocity in the fourth quarter worth approximately $89,299,000. Compass Financial Advisors LLC acquired a new position in Paylocity in the fourth quarter valued at approximately $639,000. JustInvest LLC lifted its stake in Paylocity by 37.7% in the fourth quarter. JustInvest LLC now owns 3,637 shares of the software maker’s stock valued at $859,000 after buying an additional 995 shares during the period. BlackRock Inc. lifted its stake in Paylocity by 3.6% in the fourth quarter. BlackRock Inc. now owns 4,053,700 shares of the software maker’s stock valued at $957,322,000 after buying an additional 139,502 shares during the period. Finally, NewEdge Advisors LLC acquired a new position in Paylocity in the fourth quarter valued at approximately $368,000. 68.42% of the stock is currently owned by institutional investors.
About Paylocity (Get Rating)
Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Payroll and Tax Services solution to simplify payroll, automate processes and manage compliance requirements within one system; expense management, on demand payment, and garnishment solutions; human capital management and employee self-service solutions, document library, compliance dashboard, and HR edge; time and attendance solution, which tracks time and attendance data, eliminating the need for manual tracking of accruals and reducing administrative tasks; schedule tracking services; and time collection devices, including kiosks, time clocks, and mobile and web applications.
- Get a free copy of the StockNews.com research report on Paylocity (PCTY)
- 3 Undervalued Easter Eggs to Watch For This Earnings Season
- Lululemon Rises On Wave Of Price Target Increases
- Is Nvidia (NASDAQ: NVDA) About To Rip Higher?
- The Top Is In For Infosys
- 3 Stellar Steel Stocks to Buy Now
Receive News & Ratings for Paylocity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paylocity and related companies with MarketBeat.com's FREE daily email newsletter.