Paylocity Holding Co. (NASDAQ:PCTY – Get Free Report) has been given an average recommendation of “Moderate Buy” by the fourteen analysts that are covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $225.75.
A number of equities analysts have recently commented on the company. Mizuho dropped their target price on Paylocity from $225.00 to $170.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. StockNews.com assumed coverage on Paylocity in a report on Thursday, October 5th. They issued a “hold” rating for the company. Citigroup dropped their target price on Paylocity from $236.00 to $234.00 and set a “neutral” rating for the company in a report on Tuesday, October 24th. Barclays lifted their target price on Paylocity from $213.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, October 12th. Finally, BMO Capital Markets raised their price target on Paylocity from $230.00 to $246.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th.
Insider Buying and Selling
Institutional Trading of Paylocity
Hedge funds have recently modified their holdings of the stock. Harvest Fund Management Co. Ltd acquired a new position in shares of Paylocity during the first quarter valued at approximately $33,000. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Paylocity by 135.1% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 174 shares of the software maker’s stock valued at $35,000 after acquiring an additional 100 shares during the last quarter. RiverPark Advisors LLC acquired a new position in shares of Paylocity during the third quarter valued at approximately $43,000. Coppell Advisory Solutions Corp. acquired a new position in shares of Paylocity during the fourth quarter valued at approximately $44,000. Finally, V Square Quantitative Management LLC acquired a new position in shares of Paylocity during the second quarter valued at approximately $47,000. Hedge funds and other institutional investors own 73.65% of the company’s stock.
Paylocity Stock Performance
Shares of Paylocity stock opened at $149.32 on Friday. The stock has a market cap of $8.39 billion, a price-to-earnings ratio of 58.10, a price-to-earnings-growth ratio of 2.58 and a beta of 1.05. The stock has a 50 day moving average price of $184.27 and a 200-day moving average price of $189.36. Paylocity has a one year low of $139.40 and a one year high of $235.00.
Paylocity Company Profile
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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