Paylocity Holding Corporation (NASDAQ:PCTY) Given Average Recommendation of “Moderate Buy” by Brokerages

Paylocity Holding Corporation (NASDAQ:PCTY) has been given an average recommendation of “Moderate Buy” by the twenty-two research firms that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $204.0526.

A number of equities research analysts have issued reports on PCTY shares. JMP Securities set a $245.00 target price on shares of Paylocity in a research note on Wednesday, November 5th. BTIG Research began coverage on Paylocity in a report on Tuesday, December 16th. They set a “buy” rating and a $180.00 price objective for the company. BMO Capital Markets lowered their target price on Paylocity from $200.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Guggenheim raised Paylocity from a “neutral” rating to a “buy” rating and set a $180.00 price target for the company in a research note on Monday, November 10th. Finally, Stephens set a $160.00 price target on Paylocity in a report on Friday.

Insider Activity at Paylocity

In related news, CFO Ryan Glenn sold 1,737 shares of Paylocity stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $143.65, for a total value of $249,520.05. Following the completion of the sale, the chief financial officer owned 77,229 shares of the company’s stock, valued at approximately $11,093,945.85. The trade was a 2.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 19.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Paylocity

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Paylocity by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,388 shares of the software maker’s stock worth $25,551,000 after acquiring an additional 7,594 shares during the last quarter. Focus Partners Wealth boosted its position in shares of Paylocity by 24.5% in the first quarter. Focus Partners Wealth now owns 1,365 shares of the software maker’s stock valued at $256,000 after acquiring an additional 269 shares during the period. Pallas Capital Advisors LLC acquired a new stake in shares of Paylocity in the second quarter worth $406,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Paylocity by 186.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,494 shares of the software maker’s stock worth $1,014,000 after acquiring an additional 3,576 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in Paylocity during the second quarter worth $19,220,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Trading Down 1.1%

Shares of NASDAQ PCTY opened at $140.10 on Monday. Paylocity has a one year low of $135.46 and a one year high of $223.80. The business has a 50-day moving average price of $148.40 and a two-hundred day moving average price of $161.48. The firm has a market capitalization of $7.62 billion, a PE ratio of 35.11, a PEG ratio of 4.12 and a beta of 0.56.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Tuesday, November 4th. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. Paylocity had a net margin of 13.75% and a return on equity of 22.07%. The business had revenue of $408.17 million during the quarter, compared to analyst estimates of $399.53 million. During the same period in the prior year, the firm earned $1.66 earnings per share. The firm’s revenue was up 12.5% compared to the same quarter last year. Research analysts anticipate that Paylocity will post 4.36 EPS for the current year.

About Paylocity

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.