Brokerages Set Paylocity Holding Co. (NASDAQ:PCTY) PT at $205.71

Shares of Paylocity Holding Co. (NASDAQ:PCTY) have received an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $205.71.

A number of analysts have commented on the stock. Jefferies Financial Group boosted their price target on shares of Paylocity from $215.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Needham & Company LLC boosted their target price on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Truist Financial increased their price target on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets boosted their price objective on Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Barclays upped their price objective on Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $196.20 on Friday. The stock has a market cap of $10.94 billion, a P/E ratio of 50.18, a P/E/G ratio of 4.93 and a beta of 0.92. The firm’s 50-day simple moving average is $194.82 and its 200 day simple moving average is $165.46. Paylocity has a fifty-two week low of $129.94 and a fifty-two 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.

Insider Buying and Selling at Paylocity

In other Paylocity news, CFO Ryan Glenn sold 2,600 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $205.40, for a total value of $534,040.00. Following the sale, the chief financial officer now directly owns 48,150 shares in the company, valued at $9,890,010. This trade represents a 5.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Steven I. Sarowitz sold 12,226 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $196.29, for a total transaction of $2,399,841.54. Following the transaction, the director now owns 9,300,847 shares in the company, valued at approximately $1,825,663,257.63. The trade was a 0.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 151,193 shares of company stock worth $30,460,258 over the last ninety days. Company insiders own 21.91% of the company’s stock.

Institutional Investors Weigh In On Paylocity

Institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its position in shares of Paylocity by 1,650.0% in the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after acquiring an additional 165 shares during the period. Prospera Private Wealth LLC bought a new position in Paylocity in the third quarter worth $39,000. Rothschild Investment LLC acquired a new stake in Paylocity during the second quarter worth $40,000. Signaturefd LLC increased its holdings 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, Quarry LP raised its stake in shares of Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after buying an additional 185 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Paylocity Company Profile

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.