Paylocity Holding Co. (NASDAQ:PCTY) Receives $201.88 Average PT from Analysts

Paylocity Holding Co. (NASDAQ:PCTY) has received a consensus rating of “Moderate Buy” from the fifteen research firms that are presently covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $196.67.

A number of equities analysts recently commented on the company. Piper Sandler dropped their price objective on Paylocity from $210.00 to $194.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Truist Financial cut their price target on shares of Paylocity from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, February 9th. JMP Securities reissued a “market outperform” rating and set a $250.00 target price on shares of Paylocity in a research report on Monday, January 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $200.00 price target on shares of Paylocity in a research report on Friday, May 3rd. Finally, KeyCorp increased their price objective on Paylocity from $186.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, May 3rd.

Paylocity Stock Down 0.5 %

Shares of NASDAQ:PCTY opened at $168.28 on Friday. Paylocity has a 12-month low of $139.40 and a 12-month high of $230.52. The firm has a market capitalization of $9.50 billion, a P/E ratio of 48.92, a price-to-earnings-growth ratio of 3.63 and a beta of 0.88. The firm has a fifty day moving average of $165.31 and a two-hundred day moving average of $162.71.

Paylocity (NASDAQ:PCTY) last issued its earnings results on Thursday, February 8th. The software maker reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.08. The firm had revenue of $326.36 million for the quarter, compared to the consensus estimate of $324.34 million. Paylocity had a return on equity of 22.08% and a net margin of 14.42%. Equities research analysts expect that Paylocity will post 3.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Paylocity

In other news, Director Jeffrey T. Diehl sold 20,032 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $168.55, for a total transaction of $3,376,393.60. Following the completion of the transaction, the director now owns 16,391 shares of the company’s stock, valued at $2,762,703.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Katherine Ross sold 491 shares of Paylocity stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $168.29, for a total transaction of $82,630.39. Following the sale, the senior vice president now directly owns 15,353 shares in the company, valued at approximately $2,583,756.37. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey T. Diehl sold 20,032 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $168.55, for a total transaction of $3,376,393.60. Following the completion of the transaction, the director now directly 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. Insiders sold a total of 54,547 shares of company stock valued at $9,356,359 in the last ninety days. Company insiders own 22.50% of the company’s stock.

Institutional Investors Weigh In On Paylocity

Several large investors have recently modified their holdings of the stock. Nordea Investment Management AB grew its position in Paylocity by 195.8% in the third quarter. Nordea Investment Management AB now owns 6,280 shares of the software maker’s stock valued at $1,156,000 after acquiring an additional 4,157 shares during the period. Vanguard Group Inc. grew its holdings 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 purchasing an additional 25,562 shares during the last quarter. Trust Point Inc. bought a new position in Paylocity during the 4th quarter valued at about $1,023,000. Walleye Capital LLC boosted its position in Paylocity by 132.0% in the third quarter. Walleye Capital LLC now owns 14,623 shares of the software maker’s stock valued at $2,657,000 after buying an additional 8,319 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Paylocity by 98.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,771 shares of the software maker’s stock worth $2,600,000 after buying an additional 7,828 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors.

About Paylocity

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.