Mizuho Issues Positive Forecast for Paylocity (NASDAQ:PCTY) Stock Price

Paylocity (NASDAQ:PCTY) had its price target upped by Mizuho from $175.00 to $180.00 in a research report report published on Monday,Benzinga reports. Mizuho currently has a neutral rating on the software maker’s stock.

PCTY has been the topic of several other research reports. StockNews.com upgraded shares of Paylocity from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets boosted their price target on Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Truist Financial increased 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. KeyCorp lifted their price objective on shares of Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group increased their target price on shares of Paylocity from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $196.64.

Paylocity Stock Down 1.4 %

PCTY stock opened at $210.71 on Monday. The stock has a market cap of $11.75 billion, a PE ratio of 53.89, a price-to-earnings-growth ratio of 4.63 and a beta of 0.93. The firm’s 50-day simple moving average is $169.01 and its 200 day simple moving average is $156.37. Paylocity has a fifty-two week low of $129.94 and a fifty-two week high of $213.98. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29.

Insider Activity at Paylocity

In other Paylocity news, Director Jeffrey T. Diehl sold 29,606 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $196.55, for a total value of $5,819,059.30. Following the transaction, the director now owns 11,755 shares of the company’s stock, valued at approximately $2,310,445.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Paylocity news, Director Jeffrey T. Diehl sold 29,606 shares of the business’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 sale, the director now owns 11,755 shares in the company, valued at approximately $2,310,445.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Rachit Lohani sold 658 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,396 shares of company stock valued at $5,947,989 over the last ninety days. Insiders own 21.91% of the company’s stock.

Institutional Trading of Paylocity

Large investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew 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 buying an additional 7,707 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Paylocity by 55.2% during the 1st quarter. BNP Paribas Financial Markets now owns 36,818 shares of the software maker’s stock valued at $6,328,000 after acquiring an additional 13,093 shares in the last quarter. Cetera Advisors LLC acquired a new position in shares of Paylocity in the 1st quarter valued at about $729,000. Price T Rowe Associates Inc. MD lifted its position in shares of Paylocity by 3.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock worth $1,518,176,000 after purchasing an additional 278,607 shares in the last quarter. Finally, Capital Research Global Investors acquired a new stake in shares of Paylocity during the first quarter worth approximately $46,902,000. 94.76% of the stock is 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.