Paylocity (NASDAQ:PCTY) Given New $200.00 Price Target at Mizuho

Paylocity (NASDAQ:PCTY) had its target price upped by Mizuho from $180.00 to $200.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the software maker’s stock.

A number of other brokerages have also recently commented on PCTY. Piper Sandler boosted their price target on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Barclays increased their price objective on shares of Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Needham & Company LLC boosted their price target on shares of Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Truist Financial increased their price target on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, BMO Capital Markets upped their price objective on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Paylocity presently has an average rating of “Moderate Buy” and a consensus target price of $205.71.

Paylocity Trading Down 2.2 %

NASDAQ:PCTY opened at $200.17 on Friday. The firm has a market capitalization of $11.16 billion, a P/E ratio of 51.19, a P/E/G ratio of 5.00 and a beta of 0.92. Paylocity has a 52 week low of $129.94 and a 52 week high of $215.68. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average of $191.37 and a 200 day moving average of $163.69.

Insider Activity

In other Paylocity news, SVP Rachit Lohani sold 658 shares of the company’s stock in a transaction on 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 sale, the senior vice president now owns 39,764 shares in the company, valued at $6,474,772.12. This represents a 1.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey T. Diehl sold 29,606 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $196.55, for a total value of $5,819,059.30. Following the sale, the director now owns 11,755 shares of the company’s stock, valued at approximately $2,310,445.25. This represents a 71.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 129,089 shares of company stock worth $25,991,644. Company insiders own 21.91% of the company’s stock.

Institutional Trading of Paylocity

A number of institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC increased its holdings in Paylocity by 16,397.9% in the 3rd 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 during the period. Edgestream Partners L.P. grew its position in Paylocity by 222.3% during the 3rd quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock worth $1,788,000 after purchasing an additional 7,475 shares during the period. Qsemble Capital Management LP acquired a new position in shares of Paylocity in the 2nd quarter valued at about $842,000. Quest Partners LLC grew its holdings in Paylocity by 82,275.0% during the second quarter. Quest Partners LLC now owns 6,590 shares of the software maker’s stock worth $869,000 after acquiring an additional 6,582 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Paylocity by 21.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 58,087 shares of the software maker’s stock valued at $7,659,000 after acquiring an additional 10,323 shares during the period. 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.