Paylocity (NASDAQ:PCTY) Price Target Raised to $270.00

Paylocity (NASDAQ:PCTY) had its price target lifted by JMP Securities from $250.00 to $270.00 in a research note published on Friday,Benzinga reports. The firm currently has a market outperform rating on the software maker’s stock.

PCTY has been the topic of a number of other reports. Truist Financial upped their price target on shares of Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Barclays upped their price target on shares of Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. KeyCorp upped their price target on shares of Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday. Jefferies Financial Group increased their price objective on shares of Paylocity from $215.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Needham & Company LLC increased their price objective on shares of Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $233.25.

Paylocity Stock Down 2.9 %

Shares of Paylocity stock opened at $205.84 on Friday. The company has a market cap of $11.48 billion, a P/E ratio of 52.78, a PEG ratio of 5.19 and a beta of 0.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. Paylocity has a one year low of $129.94 and a one year high of $223.80. The firm has a fifty day moving average of $201.28 and a two-hundred day moving average of $181.43.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.93% and a net margin of 14.76%. On average, analysts forecast that Paylocity will post 4.46 earnings per share for the current year.

Insider Activity at Paylocity

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

Institutional Trading of Paylocity

Large investors have recently bought and sold shares of the company. International Assets Investment Management LLC grew its position 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 worth $1,279,000 after buying an additional 7,707 shares in the last quarter. Edgestream Partners L.P. lifted its stake in Paylocity by 222.3% in the third quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock valued at $1,788,000 after buying an additional 7,475 shares during the last quarter. Barclays PLC raised its stake in shares of Paylocity by 14.3% during the third quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock valued at $7,407,000 after purchasing an additional 5,609 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Paylocity by 5,742.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker’s stock valued at $1,165,000 after purchasing an additional 5,742 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Paylocity by 1.7% in the third 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. Institutional investors and hedge funds 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.