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

Paylocity Holding Co. (NASDAQ:PCTY) has earned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $192.71.

PCTY has been the topic of a number of analyst reports. Citigroup decreased their price objective on shares of Paylocity from $178.00 to $155.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 18th. Robert W. Baird lowered their price target on Paylocity from $225.00 to $195.00 and set an “outperform” rating for the company in a research report on Tuesday, June 18th. KeyCorp lifted their price objective on Paylocity from $186.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Stifel Nicolaus reduced their target price on Paylocity from $205.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, June 5th. Finally, Piper Sandler dropped their price target on Paylocity from $210.00 to $194.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd.

Paylocity Trading Up 0.1 %

PCTY opened at $135.98 on Friday. The company has a market cap of $7.67 billion, a P/E ratio of 39.53, a P/E/G ratio of 2.48 and a beta of 0.89. Paylocity has a 12 month low of $132.61 and a 12 month high of $230.52. The business’s 50-day moving average price is $153.94 and its 200-day moving average price is $161.06.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings results on Thursday, May 2nd. The software maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.29. The business had revenue of $401.28 million for the quarter, compared to analysts’ expectations of $396.93 million. Paylocity had a return on equity of 22.08% and a net margin of 14.42%. Equities research analysts forecast that Paylocity will post 3.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Paylocity news, CAO Nicholas Rost sold 331 shares of Paylocity stock in a transaction on Monday, June 17th. The stock was sold at an average price of $138.73, for a total transaction of $45,919.63. Following the completion of the transaction, the chief accounting officer now owns 4,751 shares in the company, valued at $659,106.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 22.50% of the stock is currently owned by company insiders.

Institutional Trading of Paylocity

Institutional investors have recently bought and sold shares of the company. Venturi Wealth Management LLC lifted its stake in shares of Paylocity by 144.1% in the first quarter. Venturi Wealth Management LLC now owns 166 shares of the software maker’s stock worth $29,000 after buying an additional 98 shares in the last quarter. American National Bank purchased a new stake in Paylocity during the 4th quarter valued at $31,000. GAMMA Investing LLC bought a new position in shares of Paylocity during the fourth quarter valued at $36,000. Principal Securities Inc. bought a new stake in Paylocity in the 4th quarter worth about $41,000. Finally, J.Safra Asset Management Corp raised its position in Paylocity by 80.0% in the 1st quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock worth $42,000 after buying an additional 108 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

About Paylocity

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.