Analysts Set Paylocity Holding Co. (NASDAQ:PCTY) Price Target at $196.64

by · The Markets Daily

Shares of Paylocity Holding Co. (NASDAQ:PCTY – Get Free Report) have received an average recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $196.64.

PCTY has been the topic of several analyst reports. StockNews.com upgraded Paylocity from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st. Barclays boosted their price objective 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. 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. KeyCorp upped their price target on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, BMO Capital Markets increased their price objective on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a report on Thursday, October 31st.

Check Out Our Latest Stock Report on PCTY

Paylocity Stock Up 0.8 %

Paylocity stock opened at $211.88 on Wednesday. Paylocity has a twelve month low of $129.94 and a twelve month high of $215.68. The business has a fifty day moving average of $181.09 and a two-hundred day moving average of $160.41. The firm has a market cap of $11.81 billion, a P/E ratio of 54.19, a P/E/G ratio of 5.17 and a beta of 0.93. 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 Transactions at Paylocity

In other Paylocity news, CAO Nicholas Rost sold 212 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $40,977.48. Following the completion of the transaction, the chief accounting officer now owns 7,364 shares in the company, valued at $1,423,387.56. The trade was a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Steven I. Sarowitz sold 11,306 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $204.07, for a total transaction of $2,307,215.42. Following the transaction, the director now owns 9,243,074 shares of the company’s stock, valued at $1,886,234,111.18. This trade represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,277 shares of company stock valued at $14,057,311. Corporate insiders own 21.91% of the company’s stock.

Institutional Investors Weigh In On Paylocity

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC boosted its stake in shares of Paylocity by 207.0% during the third quarter. Tidal Investments LLC now owns 8,836 shares of the software maker’s stock worth $1,458,000 after buying an additional 5,958 shares during the period. Coldstream Capital Management Inc. purchased a new position in shares of Paylocity in the 3rd quarter valued at approximately $239,000. Geode Capital Management LLC increased its holdings in shares of Paylocity by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock valued at $173,053,000 after purchasing an additional 36,590 shares during the period. Vestcor Inc raised its stake in shares of Paylocity by 943.8% during the third quarter. Vestcor Inc now owns 10,000 shares of the software maker’s stock worth $1,650,000 after purchasing an additional 9,042 shares during the last quarter. Finally, Barclays PLC grew its position in Paylocity by 14.3% in the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock valued at $7,407,000 after buying an additional 5,609 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Company Profile

(Get Free Report

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.

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