Paylocity (NASDAQ:PCTY) Hits New 1-Year Low at $130.24

Shares of Paylocity Holding Co. (NASDAQ:PCTY) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $130.24 and last traded at $130.63, with a volume of 34923 shares trading hands. The stock had previously closed at $131.85.

Wall Street Analyst Weigh In

A number of research firms recently commented on PCTY. Piper Sandler dropped their price objective on Paylocity from $210.00 to $194.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. KeyCorp lifted their price target on shares of Paylocity from $186.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Robert W. Baird decreased their target price on shares of Paylocity from $225.00 to $195.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 18th. TD Cowen lowered their target price on shares of Paylocity from $180.00 to $153.00 and set a “buy” rating for the company in a research note on Thursday, June 20th. Finally, Needham & Company LLC reissued a “buy” rating and set a $200.00 price target on shares of Paylocity in a research note on Friday, May 3rd. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Paylocity has an average rating of “Moderate Buy” and an average target price of $190.65.

Paylocity Price Performance

The firm has a 50-day simple moving average of $151.34 and a 200 day simple moving average of $160.32. The company has a market capitalization of $7.43 billion, a PE ratio of 38.33, a price-to-earnings-growth ratio of 2.41 and a beta of 0.93.

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

Insider Activity at Paylocity

In other news, CAO Nicholas Rost sold 331 shares of the firm’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 4,751 shares in the company, valued at $659,106.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 22.50% of the company’s stock.

Institutional Trading of Paylocity

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Venturi Wealth Management LLC lifted its holdings in Paylocity by 144.1% during the 1st quarter. Venturi Wealth Management LLC now owns 166 shares of the software maker’s stock worth $29,000 after buying an additional 98 shares during the last quarter. American National Bank acquired a new position in Paylocity in the fourth quarter worth $31,000. GAMMA Investing LLC bought a new stake in Paylocity during the fourth quarter valued at $36,000. Principal Securities Inc. acquired a new stake in shares of Paylocity during the fourth quarter worth $41,000. Finally, J.Safra Asset Management Corp lifted its position in shares of 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. Institutional investors own 94.76% of the company’s stock.

Paylocity Company Profile

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.