Paylocity Holding Co. (NASDAQ:PCTY – Free Report) – Equities research analysts at DA Davidson issued their Q2 2024 earnings estimates for Paylocity in a report issued on Monday, November 6th. DA Davidson analyst R. Simmons expects that the software maker will post earnings per share of $0.70 for the quarter. The consensus estimate for Paylocity’s current full-year earnings is $3.49 per share. DA Davidson also issued estimates for Paylocity’s FY2024 earnings at $3.88 EPS and FY2025 earnings at $4.38 EPS.
A number of other equities research analysts have also recently commented on PCTY. BMO Capital Markets lifted their price objective on Paylocity from $230.00 to $246.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. JMP Securities dropped their target price on shares of Paylocity from $320.00 to $250.00 and set a “market outperform” rating on the stock in a report on Friday, November 3rd. Mizuho dropped their price objective on shares of Paylocity from $225.00 to $170.00 and set a “neutral” rating on the stock in a report on Friday, November 3rd. Piper Sandler cut their price target on Paylocity from $249.00 to $207.00 and set an “overweight” rating on the stock in a report on Friday, November 3rd. Finally, TheStreet downgraded shares of Paylocity from a “b-” rating to a “c+” rating in a report on Thursday, November 2nd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.75.
Paylocity Stock Up 5.0 %
Paylocity stock opened at $148.98 on Tuesday. Paylocity has a 12-month low of $139.40 and a 12-month high of $235.00. The stock has a 50-day simple moving average of $187.40 and a 200 day simple moving average of $190.21. The stock has a market capitalization of $8.37 billion, a price-to-earnings ratio of 57.97 and a beta of 1.05.
Institutional Trading of Paylocity
Several large investors have recently bought and sold shares of the stock. Fox Run Management L.L.C. increased its holdings in Paylocity by 117.3% in the 3rd quarter. Fox Run Management L.L.C. now owns 4,843 shares of the software maker’s stock worth $880,000 after buying an additional 2,614 shares during the period. Van Berkom & Associates Inc. acquired a new stake in Paylocity during the third quarter worth about $878,000. Zions Bancorporation N.A. raised its position in Paylocity by 8.3% during the third quarter. Zions Bancorporation N.A. now owns 6,155 shares of the software maker’s stock valued at $1,118,000 after acquiring an additional 473 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Paylocity by 6.7% in the 3rd quarter. Arizona State Retirement System now owns 12,181 shares of the software maker’s stock valued at $2,213,000 after purchasing an additional 766 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Paylocity by 17.3% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,552 shares of the software maker’s stock worth $3,189,000 after buying an additional 2,591 shares in the last quarter. Hedge funds and other institutional investors own 73.65% of the company’s stock.
Insider Transactions at Paylocity
In related news, Director Bernard Robinson Kenneth sold 275 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $202.11, for a total transaction of $55,580.25. Following the completion of the sale, the director now directly owns 3,031 shares of the company’s stock, valued at approximately $612,595.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Paylocity news, Director Bernard Robinson Kenneth sold 275 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $202.11, for a total transaction of $55,580.25. Following the sale, the director now owns 3,031 shares of the company’s stock, valued at approximately $612,595.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey T. Diehl sold 522 shares of the company’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $198.97, for a total value of $103,862.34. Following the sale, the director now owns 17,105 shares of the company’s stock, valued at $3,403,381.85. The disclosure for this sale can be found here. Insiders have sold 172,189 shares of company stock valued at $33,943,823 in the last ninety days. Corporate insiders own 26.50% of the company’s stock.
Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.
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