Paylocity Holding Co. (NASDAQ:PCTY) Given Average Rating of “Moderate Buy” by Analysts

Shares of Paylocity Holding Co. (NASDAQ:PCTY) have received an average rating of “Moderate Buy” from the seventeen analysts that are covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $190.65.

Several analysts recently issued reports on the stock. Barclays lifted their price target on shares of Paylocity from $166.00 to $178.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Citigroup decreased their target price on shares of Paylocity from $178.00 to $155.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. TD Cowen cut their price target on Paylocity from $180.00 to $153.00 and set a “buy” rating for the company in a research note on Thursday, June 20th. KeyCorp boosted their price objective on Paylocity from $186.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, Piper Sandler dropped their target price on Paylocity from $210.00 to $194.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd.

Paylocity Trading Down 0.3 %

Shares of NASDAQ PCTY opened at $131.85 on Friday. The firm has a market capitalization of $7.44 billion, a P/E ratio of 38.33, a P/E/G ratio of 2.41 and a beta of 0.89. The firm’s 50-day moving average price is $151.34 and its 200-day moving average price is $160.33. Paylocity has a 1-year low of $131.00 and a 1-year high of $230.52.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings results on Thursday, May 2nd. The software maker reported $1.57 earnings per share (EPS) 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 business had revenue of $401.28 million for the quarter, compared to analyst estimates of $396.93 million. Equities research analysts forecast that Paylocity will post 3.95 EPS for the current year.

Insider Buying and Selling

In other news, CAO Nicholas Rost sold 331 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $138.73, for a total transaction of $45,919.63. Following the completion of the transaction, the chief accounting officer now directly owns 4,751 shares of the company’s stock, valued at approximately $659,106.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Paylocity

A number of large investors have recently bought and sold shares of the company. Venturi Wealth Management LLC grew its stake in shares of Paylocity by 144.1% during the 1st quarter. Venturi Wealth Management LLC now owns 166 shares of the software maker’s stock worth $29,000 after acquiring an additional 98 shares during the period. American National Bank purchased a new stake in Paylocity during the fourth quarter valued at about $31,000. GAMMA Investing LLC bought a new position in Paylocity during the fourth quarter worth about $36,000. Principal Securities Inc. purchased a new position in shares of Paylocity in the fourth quarter worth about $41,000. Finally, J.Safra Asset Management Corp raised its position in shares of Paylocity by 80.0% in the first quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock valued at $42,000 after purchasing an additional 108 shares during the period. 94.76% of the stock is owned by hedge funds and other 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.