Analysts’ Weekly Ratings Changes for Paylocity (PCTY)

Paylocity (NASDAQ: PCTY) recently received a number of ratings updates from brokerages and research firms:

• 11/1/2024 – Paylocity was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 11/1/2024 – Paylocity had its price target raised by analysts at Truist Financial Co. from $195.00 to $210.00. They now have a “buy” rating on the stock.
• 10/31/2024 – Paylocity had its price target raised by analysts at KeyCorp from $187.00 to $210.00. They now have an “overweight” rating on the stock.
• 10/31/2024 – Paylocity had its price target raised by analysts at Piper Sandler from $172.00 to $212.00. They now have an “overweight” rating on the stock.
• 10/31/2024 – Paylocity had its price target raised by analysts at BMO Capital Markets from $175.00 to $203.00. They now have an “outperform” rating on the stock.
• 10/31/2024 – Paylocity had its price target raised by analysts at Barclays PLC from $174.00 to $180.00. They now have an “equal weight” rating on the stock.
• 10/31/2024 – Paylocity had its price target raised by analysts at Jefferies Financial Group Inc. from $200.00 to $215.00. They now have a “buy” rating on the stock.
• 10/31/2024 – Paylocity had its price target raised by analysts at Needham & Company LLC from $200.00 to $220.00. They now have a “buy” rating on the stock.
• 10/25/2024 – Paylocity had its price target raised by analysts at KeyCorp from $182.00 to $187.00. They now have an “overweight” rating on the stock.
• 10/22/2024 – Paylocity was upgraded by analysts at Jefferies Financial Group Inc. from a “hold” rating to a “buy” rating. They now have a $200.00 price target on the stock, up previously from $145.00.
• 10/17/2024 – Paylocity had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $200.00 price target on the stock.
• 10/14/2024 – Paylocity had its price target raised by analysts at Mizuho from $155.00 to $175.00. They now have a “neutral” rating on the stock.
• 10/11/2024 – Paylocity had its price target raised by analysts at Barclays PLC from $156.00 to $174.00. They now have an “equal weight” rating on the stock.
• 10/2/2024 – Paylocity had its price target raised by analysts at KeyCorp from $171.00 to $182.00. They now have an “overweight” rating on the stock.
• 9/5/2024 – Paylocity had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $200.00 price target on the stock.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $191.76 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.13 and a current ratio of 1.32. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $192.61. The company’s fifty day moving average is $165.67 and its two-hundred day moving average is $155.06. The firm has a market capitalization of $10.69 billion, a P/E ratio of 49.04, a PEG ratio of 4.46 and a beta of 0.93.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, August 1st. The software maker reported $1.48 EPS for the quarter, topping the consensus estimate of $1.29 by $0.19. Paylocity had a net margin of 15.32% and a return on equity of 22.92%. The business had revenue of $357.30 million for the quarter, compared to analyst estimates of $350.29 million. During the same period in the previous year, the firm earned $0.76 EPS. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. Analysts forecast that Paylocity Holding Co. will post 4.51 EPS for the current fiscal year.

Insider Activity at Paylocity

In related news, SVP Rachit Lohani sold 658 shares of the company’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 transaction of $107,142.14. Following the transaction, the senior vice president now owns 39,764 shares of the company’s stock, valued at approximately $6,474,772.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 21.91% of the stock is currently owned by corporate insiders.

Institutional Trading of Paylocity

Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its holdings in shares of Paylocity by 55.2% during the 1st quarter. BNP Paribas Financial Markets now owns 36,818 shares of the software maker’s stock valued at $6,328,000 after acquiring an additional 13,093 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Paylocity by 12.6% in the first quarter. Janney Montgomery Scott LLC now owns 6,343 shares of the software maker’s stock worth $1,090,000 after buying an additional 708 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Paylocity by 3.6% in the first quarter. Daiwa Securities Group Inc. now owns 2,900 shares of the software maker’s stock worth $498,000 after buying an additional 100 shares during the period. FORA Capital LLC acquired a new stake in shares of Paylocity in the first quarter valued at about $1,540,000. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Paylocity during the 1st quarter valued at about $219,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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.