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

StockNews.com downgraded shares of Paylocity (NASDAQ:PCTY) from a buy rating to a hold rating in a report released on Monday.

PCTY has been the topic of a number of other research reports. Citigroup upgraded shares of Paylocity from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $214.00 to $231.00 in a report on Thursday, January 16th. Truist Financial boosted their price target on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Jefferies Financial Group raised their price objective on Paylocity from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Friday. BMO Capital Markets upped their target price on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Stifel Nicolaus raised their price target on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $233.25.

Paylocity Trading Up 2.8 %

Paylocity stock opened at $211.61 on Monday. The stock has a 50-day moving average price of $201.28 and a 200 day moving average price of $181.70. Paylocity has a 52 week low of $129.94 and a 52 week high of $223.80. The stock has a market cap of $11.80 billion, a PE ratio of 54.26, a P/E/G ratio of 5.19 and a beta of 0.95. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.93%. Equities research analysts predict that Paylocity will post 4.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Andrew Cappotelli sold 247 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $47,742.63. Following the sale, the senior vice president now owns 14,634 shares of the company’s stock, valued at $2,828,605.86. This trade represents a 1.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven I. Sarowitz sold 2,600 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $200.14, for a total transaction of $520,364.00. Following the transaction, the director now directly owns 8,332,347 shares of the company’s stock, valued at $1,667,635,928.58. The trade was a 0.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,380 shares of company stock valued at $25,830,669 over the last quarter. Insiders own 21.91% of the company’s stock.

Institutional Trading of Paylocity

Several large investors have recently added to or reduced their stakes in the business. UMB Bank n.a. boosted 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 valued at $29,000 after purchasing an additional 165 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Paylocity during the fourth quarter valued at approximately $29,000. Prospera Private Wealth LLC acquired a new position in Paylocity in the 3rd quarter worth about $39,000. Signaturefd LLC increased its holdings in 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 last quarter. Finally, Quarry LP raised its holdings in shares of Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after purchasing an additional 185 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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.