Paylocity Holding Co. (NASDAQ:PCTY) Receives $233.25 Average Target Price from Brokerages

Shares of Paylocity Holding Co. (NASDAQ:PCTY) have received a consensus recommendation of “Moderate Buy” from the sixteen research firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $233.25.

A number of equities analysts have weighed in on the company. Mizuho upgraded Paylocity from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $200.00 to $235.00 in a research note on Friday, January 31st. Needham & Company LLC upped their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Barclays lifted their target price on shares of Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Raymond James reissued an “outperform” rating and issued a $265.00 price target (up previously from $215.00) on shares of Paylocity in a report on Friday, February 7th. Finally, Citigroup upgraded shares of Paylocity from a “neutral” rating to a “buy” rating and raised their price objective for the company from $214.00 to $231.00 in a research report on Thursday, January 16th.

Insider Buying and Selling at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 1,400 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $200.59, for a total value of $280,826.00. Following the transaction, the director now owns 8,338,430 shares in the company, valued at approximately $1,672,605,673.70. The trade was a 0.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 63,849 shares of company stock worth $12,982,226. 21.91% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. bought a new stake in shares of Paylocity in the 4th quarter worth approximately $29,000. Prospera Private Wealth LLC bought a new stake in Paylocity in the third quarter valued at $39,000. UMB Bank n.a. raised its holdings in Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock worth $49,000 after purchasing an additional 72 shares in the last quarter. Quarry LP lifted its position in shares of Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after purchasing an additional 185 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Paylocity by 489.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $54,000 after purchasing an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Price Performance

Shares of PCTY stock opened at $204.29 on Friday. The company has a market cap of $11.42 billion, a P/E ratio of 52.38, a P/E/G ratio of 4.49 and a beta of 0.95. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. The business has a fifty day simple moving average of $203.37 and a 200 day simple moving average of $187.63. Paylocity has a twelve month low of $129.94 and a twelve month high of $223.80.

Paylocity (NASDAQ:PCTY) last posted its earnings results on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. On average, sell-side analysts forecast that Paylocity will post 4.36 EPS for the current fiscal year.

About Paylocity

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.