Paylocity (NASDAQ:PCTY) Stock Price Expected to Rise, Mizuho Analyst Says

Paylocity (NASDAQ:PCTY) had its price target raised by stock analysts at Mizuho from $175.00 to $180.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the software maker’s stock. Mizuho’s price objective would suggest a potential downside of 8.63% from the stock’s current price.

PCTY has been the topic of a number of other reports. Piper Sandler raised their price target on shares of Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Jefferies Financial Group increased their price objective on shares of Paylocity from $200.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and issued a $250.00 price objective on shares of Paylocity in a report on Monday, August 5th. StockNews.com upgraded shares of Paylocity from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Finally, KeyCorp increased their price objective on shares of Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $194.20.

Paylocity Trading Up 3.0 %

Shares of Paylocity stock opened at $197.00 on Monday. The firm has a market capitalization of $10.98 billion, a PE ratio of 50.38, a P/E/G ratio of 4.64 and a beta of 0.93. Paylocity has a twelve month low of $129.94 and a twelve month high of $197.25. The firm’s 50-day moving average price is $166.98 and its 200 day moving average price is $155.58. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29.

Insider Buying and Selling

In related news, SVP Rachit Lohani sold 658 shares of the stock in a transaction that occurred 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 21.91% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Paylocity

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. boosted 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 valued at $29,000 after buying an additional 165 shares during the period. Rothschild Investment LLC purchased a new position in Paylocity in the 2nd quarter valued at approximately $40,000. J.Safra Asset Management Corp boosted its position in Paylocity by 80.0% in the 1st quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock valued at $42,000 after buying an additional 108 shares during the period. Signaturefd LLC boosted its position in Paylocity by 121.0% in the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after buying an additional 167 shares during the period. Finally, Versant Capital Management Inc purchased a new stake in shares of Paylocity during the 2nd quarter worth $66,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

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.