Paylocity (NASDAQ:PCTY) Upgraded at StockNews.com

Paylocity (NASDAQ:PCTY) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Saturday.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC lifted their price objective on shares of Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Piper Sandler upped their target price on Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Truist Financial boosted their price objective on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Jefferies Financial Group raised their target price on Paylocity from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, KeyCorp lifted their target price on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Paylocity has an average rating of “Moderate Buy” and an average target price of $196.64.

Paylocity Stock Up 1.0 %

Shares of NASDAQ PCTY opened at $205.80 on Friday. The stock has a market capitalization of $11.47 billion, a P/E ratio of 52.63, a P/E/G ratio of 5.11 and a beta of 0.92. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. Paylocity has a 1 year low of $129.94 and a 1 year high of $215.68. The company has a 50-day moving average price of $188.32 and a 200-day moving average price of $162.62.

Insider Activity at Paylocity

In other news, Director Steven I. Sarowitz sold 6,900 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $209.02, for a total value of $1,442,238.00. Following the transaction, the director now owns 8,933,409 shares of the company’s stock, valued at $1,867,261,149.18. This represents a 0.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Andrew Cappotelli sold 247 shares of Paylocity stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total transaction of $47,742.63. Following the sale, the senior vice president now directly owns 14,634 shares of the company’s stock, valued at $2,828,605.86. This represents a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,327 shares of company stock worth $20,340,311. 21.91% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Paylocity

Several hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in shares of Paylocity by 16,397.9% during the 3rd quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock valued at $1,279,000 after buying an additional 7,707 shares in the last quarter. Cetera Advisors LLC bought a new stake in shares of Paylocity in the 1st quarter worth approximately $729,000. Cetera Investment Advisers boosted its stake in shares of Paylocity by 128.7% in the 1st quarter. Cetera Investment Advisers now owns 11,783 shares of the software maker’s stock valued at $2,025,000 after purchasing an additional 6,630 shares in the last quarter. Qsemble Capital Management LP bought a new position in shares of Paylocity during the 2nd quarter valued at $842,000. Finally, Quest Partners LLC lifted its stake in Paylocity by 82,275.0% in the second quarter. Quest Partners LLC now owns 6,590 shares of the software maker’s stock worth $869,000 after purchasing an additional 6,582 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

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.