Paylocity Holding Corporation (NASDAQ:PCTY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Paylocity Holding Corporation (NASDAQ:PCTY) have earned an average rating of “Moderate Buy” from the twenty-one brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and fifteen have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $180.05.

Several brokerages have recently issued reports on PCTY. Wall Street Zen downgraded shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Sunday, February 22nd. Jefferies Financial Group decreased their price objective on shares of Paylocity from $180.00 to $150.00 and set a “buy” rating for the company in a report on Friday, February 6th. TD Cowen reaffirmed a “buy” rating on shares of Paylocity in a research report on Friday, February 6th. Stifel Nicolaus cut their target price on Paylocity from $188.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Finally, Stephens set a $160.00 target price on Paylocity in a report on Friday, January 16th.

Institutional Investors Weigh In On Paylocity

Several large investors have recently bought and sold shares of the business. ProShare Advisors LLC lifted its stake in Paylocity by 3.3% during the 2nd quarter. ProShare Advisors LLC now owns 2,055 shares of the software maker’s stock valued at $372,000 after acquiring an additional 65 shares during the period. Federated Hermes Inc. grew its stake in shares of Paylocity by 1.6% in the third quarter. Federated Hermes Inc. now owns 4,848 shares of the software maker’s stock worth $772,000 after acquiring an additional 78 shares during the period. SBI Securities Co. Ltd. raised its holdings in shares of Paylocity by 47.4% during the second quarter. SBI Securities Co. Ltd. now owns 252 shares of the software maker’s stock valued at $46,000 after purchasing an additional 81 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Paylocity by 2.5% during the third quarter. PNC Financial Services Group Inc. now owns 3,313 shares of the software maker’s stock valued at $528,000 after purchasing an additional 81 shares during the period. Finally, MGO One Seven LLC lifted its position in Paylocity by 4.7% during the third quarter. MGO One Seven LLC now owns 2,010 shares of the software maker’s stock valued at $320,000 after purchasing an additional 90 shares during the period. 94.76% of the stock is currently owned by institutional investors.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $117.95 on Tuesday. The business has a fifty day moving average price of $128.45 and a 200-day moving average price of $145.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $6.36 billion, a PE ratio of 27.75, a PEG ratio of 3.45 and a beta of 0.58. Paylocity has a 1-year low of $100.50 and a 1-year high of $201.97.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings results on Thursday, February 5th. The software maker reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.28. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. The company had revenue of $416.13 million for the quarter, compared to analysts’ expectations of $408.37 million. During the same quarter in the previous year, the business posted $1.52 EPS. Paylocity’s revenue was up 10.4% compared to the same quarter last year. As a group, equities analysts expect that Paylocity will post 4.36 EPS for the current fiscal year.

Paylocity Company Profile

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.