Paylocity Holding Co. (NASDAQ:PCTY) Given Average Rating of “Moderate Buy” by Analysts

Paylocity Holding Co. (NASDAQ:PCTY) has earned a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $229.82.

A number of brokerages have recently issued reports on PCTY. TD Cowen lowered their price target on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Monday, January 6th. KeyCorp raised their price target on shares of Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, February 7th. UBS Group upped their price target on shares of Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Citigroup upgraded Paylocity from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $214.00 to $231.00 in a research report on Thursday, January 16th. Finally, StockNews.com cut Paylocity from a “buy” rating to a “hold” rating in a report on Monday, February 10th.

Insider Buying and Selling

In related news, Director Steven I. Sarowitz sold 23,243 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $191.00, for a total transaction of $4,439,413.00. Following the transaction, the director now directly owns 470,452 shares in the company, valued at $89,856,332. This trade represents a 4.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 21.91% of the stock is owned by corporate insiders.

Institutional Trading of Paylocity

A number of institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new stake in Paylocity during the 4th quarter valued at $29,000. USA Financial Formulas purchased a new position in shares of Paylocity in the first quarter valued at about $29,000. UMB Bank n.a. raised its stake in shares of Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after acquiring an additional 72 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Paylocity by 489.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock worth $54,000 after purchasing an additional 225 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock worth $55,000 after purchasing an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Trading Up 0.1 %

Shares of PCTY opened at $183.98 on Friday. The firm has a market cap of $10.28 billion, a P/E ratio of 47.17, a price-to-earnings-growth ratio of 4.49 and a beta of 0.76. Paylocity has a fifty-two week low of $129.94 and a fifty-two week high of $223.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. The business has a 50-day moving average of $193.70 and a 200 day moving average of $194.63.

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