Paylocity Holding Co. (NASDAQ:PCTY) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Paylocity Holding Co. (NASDAQ:PCTYGet Free Report) have been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are currently covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $196.40.

Several equities research analysts have weighed in on PCTY shares. Citigroup boosted their price objective on Paylocity from $176.00 to $178.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 22nd. Barclays boosted their price objective on Paylocity from $166.00 to $178.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Mizuho cut their target price on Paylocity from $170.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, February 9th. Piper Sandler cut their target price on Paylocity from $210.00 to $194.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Finally, KeyCorp upped their target price on Paylocity from $186.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd.

Read Our Latest Stock Analysis on Paylocity

Insiders Place Their Bets

In other Paylocity news, Director Jeffrey T. Diehl sold 1,760 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $171.64, for a total transaction of $302,086.40. Following the completion of the sale, the director now owns 14,704 shares in the company, valued at $2,523,794.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Jeffrey T. Diehl sold 1,760 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $171.64, for a total transaction of $302,086.40. Following the completion of the sale, the director now owns 14,704 shares in the company, valued at approximately $2,523,794.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeffrey T. Diehl sold 20,032 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $168.55, for a total value of $3,376,393.60. Following the sale, the director now owns 16,391 shares of the company’s stock, valued at approximately $2,762,703.05. The disclosure for this sale can be found here. 22.50% of the stock is owned by company insiders.

Institutional Trading of Paylocity

Several hedge funds and other institutional investors have recently made changes to their positions in the business. WCM Investment Management LLC increased its position in shares of Paylocity by 2.3% in the 1st quarter. WCM Investment Management LLC now owns 3,053 shares of the software maker’s stock valued at $525,000 after acquiring an additional 69 shares during the period. Avior Wealth Management LLC increased its position in shares of Paylocity by 2.4% in the 4th quarter. Avior Wealth Management LLC now owns 3,223 shares of the software maker’s stock valued at $531,000 after acquiring an additional 76 shares during the period. Shaker Investments LLC OH increased its position in shares of Paylocity by 0.3% in the 4th quarter. Shaker Investments LLC OH now owns 23,672 shares of the software maker’s stock valued at $3,902,000 after acquiring an additional 77 shares during the period. Seven Eight Capital LP increased its position in shares of Paylocity by 4.9% in the 3rd quarter. Seven Eight Capital LP now owns 1,658 shares of the software maker’s stock valued at $301,000 after acquiring an additional 78 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Paylocity by 34.7% in the 1st quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock valued at $52,000 after acquiring an additional 78 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Trading Up 1.1 %

NASDAQ:PCTY opened at $139.80 on Wednesday. The company has a market capitalization of $7.89 billion, a P/E ratio of 40.64, a P/E/G ratio of 2.53 and a beta of 0.89. Paylocity has a 12 month low of $137.49 and a 12 month high of $230.52. The business’s 50-day moving average is $161.97 and its 200 day moving average is $162.47.

Paylocity (NASDAQ:PCTYGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The software maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.29. Paylocity had a return on equity of 22.08% and a net margin of 14.42%. The company had revenue of $401.28 million for the quarter, compared to analysts’ expectations of $396.93 million. On average, research analysts forecast that Paylocity will post 3.95 earnings per share for the current year.

Paylocity Company Profile

(Get Free Report

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.

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Analyst Recommendations for Paylocity (NASDAQ:PCTY)

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