Paylocity (NASDAQ:PCTY) Price Target Raised to $220.00

Paylocity (NASDAQ:PCTY) had its target price increased by KeyCorp from $210.00 to $220.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an overweight rating on the software maker’s stock.

Other research analysts also recently issued research reports about the company. Barclays increased their price target on Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Piper Sandler lifted their target price on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Mizuho raised shares of Paylocity from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $200.00 to $235.00 in a research report on Friday. BMO Capital Markets raised their price objective on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Truist Financial boosted their target price on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Paylocity presently has an average rating of “Moderate Buy” and an average price target of $213.86.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $205.52 on Friday. Paylocity has a fifty-two week low of $129.94 and a fifty-two week high of $215.68. The company’s 50-day moving average is $201.39 and its 200 day moving average is $179.40. 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 company has a market capitalization of $11.46 billion, a P/E ratio of 52.56, a price-to-earnings-growth ratio of 4.98 and a beta of 0.93.

Insider Transactions at Paylocity

In related news, Director Jeffrey T. Diehl sold 29,606 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $196.55, for a total transaction of $5,819,059.30. Following the transaction, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $2,310,445.25. This trade represents a 71.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Nicholas Rost sold 212 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total value of $40,977.48. Following the completion of the sale, the chief accounting officer now owns 7,364 shares of the company’s stock, valued at $1,423,387.56. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 157,486 shares of company stock valued at $31,751,368. 21.91% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Paylocity

Hedge funds have recently made changes to their positions in the business. UMB Bank n.a. raised its position in Paylocity by 1,650.0% in 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 during the period. Prospera Private Wealth LLC bought a new position in shares of Paylocity during the third quarter valued at about $39,000. Signaturefd LLC increased its holdings in shares of Paylocity by 121.0% in the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after buying an additional 167 shares during the period. Quarry LP lifted its stake in shares of Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after acquiring an additional 185 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Paylocity by 43.3% during the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock valued at $77,000 after acquiring an additional 116 shares during the period. 94.76% of the stock is currently owned by institutional investors.

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.