Paylocity (NASDAQ:PCTY) PT Raised to $174.00 at Barclays

Paylocity (NASDAQ:PCTY) had its target price lifted by Barclays from $156.00 to $174.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the software maker’s stock.

A number of other research analysts have also recently issued reports on the stock. Truist Financial decreased their price objective on shares of Paylocity from $200.00 to $195.00 and set a buy rating on the stock in a research note on Wednesday, July 31st. JMP Securities reissued a market outperform rating and set a $250.00 price target on shares of Paylocity in a report on Monday, August 5th. Jefferies Financial Group reduced their price objective on Paylocity from $180.00 to $145.00 and set a hold rating on the stock in a research note on Monday, June 24th. Robert W. Baird lowered their target price on Paylocity from $225.00 to $195.00 and set an outperform rating for the company in a research note on Tuesday, June 18th. Finally, KeyCorp increased their target price on shares of Paylocity from $171.00 to $182.00 and gave the stock an overweight rating in a report on Wednesday, October 2nd. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $182.40.

Paylocity Trading Up 2.3 %

Shares of PCTY stock opened at $168.22 on Friday. The stock has a 50 day simple moving average of $159.49 and a 200 day simple moving average of $154.18. Paylocity has a 1 year low of $129.94 and a 1 year high of $205.48. The stock has a market cap of $9.49 billion, a P/E ratio of 48.90, a price-to-earnings-growth ratio of 3.96 and a beta of 0.95.

Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, August 1st. The software maker reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.19. The company had revenue of $357.30 million for the quarter, compared to analyst estimates of $350.29 million. Paylocity had a return on equity of 22.17% and a net margin of 14.74%. Paylocity’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.76 EPS. Analysts forecast that Paylocity will post 4.51 EPS for the current year.

Insider Activity at Paylocity

In related news, CEO Steven R. Beauchamp sold 49,442 shares of Paylocity stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the completion of the transaction, the chief executive officer now owns 1,745,022 shares of the company’s stock, valued at $248,979,738.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Steven R. Beauchamp sold 49,442 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the completion of the sale, the chief executive officer now owns 1,745,022 shares of the company’s stock, valued at $248,979,738.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Rachit Lohani sold 658 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total value of $107,142.14. Following the completion of the transaction, the senior vice president now directly owns 39,764 shares in the company, valued at approximately $6,474,772.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,232 shares of company stock worth $7,183,315 over the last ninety days. Insiders own 22.50% of the company’s stock.

Institutional Investors Weigh In On Paylocity

Hedge funds and other institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC increased its position in Paylocity by 84.9% in the 4th quarter. V Square Quantitative Management LLC now owns 466 shares of the software maker’s stock valued at $77,000 after buying an additional 214 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new position in shares of Paylocity during the fourth quarter worth approximately $356,000. Royal London Asset Management Ltd. bought a new position in shares of Paylocity in the 4th quarter worth $1,938,000. Wellington Management Group LLP grew its position in Paylocity by 240.7% in the 4th quarter. Wellington Management Group LLP now owns 41,525 shares of the software maker’s stock valued at $6,845,000 after purchasing an additional 29,338 shares during the period. Finally, Vanguard Group Inc. increased its stake in Paylocity by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 4,158,224 shares of the software maker’s stock valued at $685,483,000 after purchasing an additional 13,962 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Paylocity Company Profile

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.