Paylocity (NASDAQ:PCTY) Given New $240.00 Price Target at Jefferies Financial Group

Paylocity (NASDAQ:PCTY) had its target price upped by Jefferies Financial Group from $215.00 to $240.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

Several other research analysts have also weighed in on the stock. Mizuho upped their price objective on shares of Paylocity from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Needham & Company LLC boosted their target price on shares of Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. KeyCorp boosted their target price on shares of Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Truist Financial boosted their target price on shares of Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, TD Cowen boosted their target price on shares of Paylocity from $208.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $204.29.

Paylocity Stock Down 1.1 %

Paylocity stock opened at $203.61 on Monday. The firm has a market cap of $11.35 billion, a PE ratio of 52.07, a P/E/G ratio of 5.07 and a beta of 0.92. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The firm’s 50 day moving average price is $189.09 and its two-hundred day moving average price is $162.77. Paylocity has a twelve month low of $129.94 and a twelve month high of $215.68.

Insider Buying and Selling at Paylocity

In other news, SVP Andrew Cappotelli sold 247 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $47,742.63. Following the completion of the transaction, the senior vice president now owns 14,634 shares in the company, valued at approximately $2,828,605.86. This represents a 1.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Rachit Lohani sold 658 shares of the stock in a transaction 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 completion of 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 1.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,327 shares of company stock valued at $20,340,311 in the last ninety days. Company insiders own 21.91% of the company’s stock.

Hedge Funds Weigh In On Paylocity

A number of hedge funds have recently made changes to their positions in the business. UMB Bank n.a. increased its position in shares of Paylocity by 1,650.0% during the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after purchasing an additional 165 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Paylocity during the 3rd quarter worth about $39,000. Rothschild Investment LLC acquired a new stake in shares of Paylocity during the 2nd quarter worth about $40,000. Signaturefd LLC increased its position in shares of Paylocity by 121.0% during the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after purchasing an additional 167 shares in the last quarter. Finally, Quarry LP increased its position in shares of Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after purchasing an additional 185 shares in the last quarter. Institutional investors and hedge funds 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.