Paylocity (NASDAQ:PCTY) Downgraded to “Hold” Rating by StockNews.com

Paylocity (NASDAQ:PCTY) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Saturday.

Several other research analysts have also commented on the company. Truist Financial lifted their target price on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Barclays boosted their target price on shares of Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Mizuho raised their price target on shares of Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Piper Sandler boosted their price objective on shares of Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, BTIG Research dropped their price objective on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $196.64.

Paylocity Price Performance

PCTY opened at $211.16 on Friday. The company has a market capitalization of $11.77 billion, a P/E ratio of 54.01, a PEG ratio of 5.36 and a beta of 0.93. Paylocity has a 1-year low of $129.94 and a 1-year high of $213.98. The company has a 50-day moving average of $170.00 and a 200-day moving average of $156.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32.

Insider Transactions at Paylocity

In related news, CFO Ryan Glenn sold 500 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $203.28, for a total value of $101,640.00. Following the completion of the transaction, the chief financial officer now owns 52,134 shares in the company, valued at $10,597,799.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Ryan Glenn sold 500 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $203.28, for a total value of $101,640.00. Following the completion of the sale, the chief financial officer now owns 52,134 shares in the company, valued at $10,597,799.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey T. Diehl sold 29,606 shares of Paylocity stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $196.55, for a total transaction of $5,819,059.30. Following the completion of the transaction, the director now directly owns 11,755 shares in the company, valued at $2,310,445.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,896 shares of company stock worth $6,049,629. Company insiders own 21.91% of the company’s stock.

Institutional Trading of Paylocity

Several institutional investors and hedge funds have recently bought and sold shares of PCTY. UMB Bank n.a. boosted its holdings in shares of Paylocity by 1,650.0% in the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after buying an additional 165 shares during the period. Prospera Private Wealth LLC purchased a new position in Paylocity during the 3rd quarter worth approximately $39,000. Rothschild Investment LLC acquired a new stake in Paylocity during the 2nd quarter valued at $40,000. J.Safra Asset Management Corp lifted its holdings in shares of Paylocity by 80.0% in the first quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock valued at $42,000 after purchasing an additional 108 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Paylocity by 121.0% in the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after buying an additional 167 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.