Paylocity (NASDAQ:PCTY) Downgraded to Hold Rating by StockNews.com

Paylocity (NASDAQ:PCTY) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

Several other analysts have also recently issued reports on PCTY. BMO Capital Markets upped their price objective on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Jefferies Financial Group increased their price target on Paylocity from $200.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and set a $250.00 price objective on shares of Paylocity in a research report on Monday, August 5th. BTIG Research dropped their target price on Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Barclays lifted their price target on Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $196.64.

Paylocity Stock Performance

NASDAQ:PCTY opened at $209.87 on Friday. The company has a fifty day moving average of $183.00 and a two-hundred day moving average of $161.10. Paylocity has a fifty-two week low of $129.94 and a fifty-two week high of $215.68. The stock has a market capitalization of $11.70 billion, a PE ratio of 53.68, a P/E/G ratio of 5.17 and a beta of 0.93. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32.

Insider Activity at Paylocity

In related news, SVP Andrew Cappotelli sold 247 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total transaction of $47,742.63. Following the sale, the senior vice president now owns 14,634 shares of the company’s stock, valued at approximately $2,828,605.86. The trade was a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Rachit Lohani sold 658 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was 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 in the company, valued at $6,474,772.12. The trade was a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,277 shares of company stock worth $14,057,311 in the last three months. Insiders own 21.91% of the company’s stock.

Institutional Trading of Paylocity

Several large investors have recently bought and sold shares of the company. UMB Bank n.a. grew its position in shares of Paylocity by 1,650.0% in the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after purchasing an additional 165 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Paylocity during the 3rd quarter valued at $39,000. Rothschild Investment LLC acquired a new stake in Paylocity during the 2nd quarter valued at $40,000. Signaturefd LLC increased its position in Paylocity by 121.0% during the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after buying an additional 167 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of Paylocity by 149.2% in the third quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after acquiring an additional 185 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

About Paylocity

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.