Paylocity Holding Co. (NASDAQ:PCTY) Receives Consensus Rating of “Moderate Buy” from Brokerages

Paylocity Holding Co. (NASDAQ:PCTY) has earned a consensus rating of “Moderate Buy” from the fourteen analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $213.86.

A number of research analysts recently issued reports on PCTY shares. StockNews.com upgraded Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday, December 7th. BMO Capital Markets boosted their price objective on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. TD Cowen reduced their price objective on Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Piper Sandler boosted their price objective on Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Mizuho upgraded Paylocity from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $200.00 to $235.00 in a research report on Friday.

Paylocity Trading Up 2.0 %

NASDAQ:PCTY opened at $205.52 on Monday. Paylocity has a 12-month low of $129.94 and a 12-month high of $215.68. The firm has a market capitalization of $11.46 billion, a P/E ratio of 52.56, a P/E/G ratio of 4.98 and a beta of 0.93. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. The business has a 50 day simple moving average of $201.39 and a 200 day simple moving average of $179.40.

Insider Transactions at Paylocity

In other news, Director Steven I. Sarowitz sold 2,600 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $200.14, for a total transaction of $520,364.00. Following the completion of the sale, the director now directly owns 8,332,347 shares of the company’s stock, valued at $1,667,635,928.58. This represents a 0.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeffrey T. Diehl sold 29,606 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $196.55, for a total value of $5,819,059.30. Following the sale, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $2,310,445.25. This represents a 71.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,486 shares of company stock valued at $31,751,368. Corporate insiders own 21.91% of the company’s stock.

Institutional Investors Weigh In On Paylocity

Hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC lifted its holdings in shares of Paylocity by 16,397.9% during the third quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock valued at $1,279,000 after purchasing an additional 7,707 shares during the last quarter. Edgestream Partners L.P. lifted its holdings in shares of Paylocity by 222.3% during the third quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock valued at $1,788,000 after purchasing an additional 7,475 shares during the last quarter. Barclays PLC lifted its stake in Paylocity by 14.3% in the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock worth $7,407,000 after acquiring an additional 5,609 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Paylocity by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker’s stock worth $46,592,000 after acquiring an additional 4,697 shares in the last quarter. Finally, OneDigital Investment Advisors LLC purchased a new stake in Paylocity in the 3rd quarter worth about $213,000. 94.76% of the stock is owned by hedge funds and other 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.