Paylocity (NASDAQ:PCTY) PT Lowered to $186.00 at KeyCorp

Paylocity (NASDAQ:PCTYFree Report) had its price objective reduced by KeyCorp from $197.00 to $186.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the software maker’s stock.

Several other equities research analysts also recently weighed in on PCTY. Barclays increased their price target on Paylocity from $213.00 to $223.00 and gave the stock an equal weight rating in a report on Thursday, October 12th. JMP Securities restated a market outperform rating and issued a $250.00 price target on shares of Paylocity in a report on Monday, January 22nd. Piper Sandler lifted their price objective on Paylocity from $207.00 to $210.00 and gave the stock an overweight rating in a research report on Friday. TheStreet cut shares of Paylocity from a b- rating to a c+ rating in a research note on Thursday, November 2nd. Finally, Needham & Company LLC reiterated a buy rating and set a $200.00 target price on shares of Paylocity in a research report on Friday. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Paylocity has a consensus rating of Moderate Buy and an average price target of $207.47.

View Our Latest Analysis on Paylocity

Paylocity Stock Performance

NASDAQ PCTY opened at $174.95 on Friday. The firm’s fifty day moving average is $160.08 and its two-hundred day moving average is $176.08. Paylocity has a one year low of $139.40 and a one year high of $230.52. The firm has a market cap of $9.83 billion, a PE ratio of 59.10, a P/E/G ratio of 2.87 and a beta of 0.89.

Insider Buying and Selling

In other news, CFO Ryan Glenn sold 1,400 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $163.47, for a total transaction of $228,858.00. Following the completion of the sale, the chief financial officer now owns 34,152 shares of the company’s stock, valued at $5,582,827.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 1,622 shares of company stock valued at $262,902 in the last quarter. Company insiders own 22.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Paylocity by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,144,262 shares of the software maker’s stock worth $753,012,000 after buying an additional 25,562 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Paylocity by 10.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,721,425 shares of the software maker’s stock worth $334,405,000 after buying an additional 156,945 shares in the last quarter. Wasatch Advisors LP lifted its position in Paylocity by 2.7% in the second quarter. Wasatch Advisors LP now owns 1,501,674 shares of the software maker’s stock worth $277,104,000 after purchasing an additional 39,646 shares during the period. Invesco Ltd. grew its holdings in Paylocity by 20.7% during the first quarter. Invesco Ltd. now owns 1,382,116 shares of the software maker’s stock worth $284,399,000 after acquiring an additional 236,876 shares during the period. Finally, State Street Corp grew its stake in shares of Paylocity by 0.3% in the 2nd quarter. State Street Corp now owns 1,285,405 shares of the software maker’s stock worth $237,196,000 after purchasing an additional 3,620 shares during the last quarter. Institutional investors own 73.65% of the company’s stock.

About Paylocity

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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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