Paylocity (NASDAQ:PCTY) PT Raised to $174.00

Paylocity (NASDAQ:PCTY) had its target price raised by equities researchers at Barclays from $156.00 to $174.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the software maker’s stock. Barclays‘s price objective would indicate a potential upside of 5.77% from the company’s previous close.

PCTY has been the subject of several other reports. BTIG Research cut their target price on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Citigroup cut their target price on shares of Paylocity from $178.00 to $155.00 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. JMP Securities reissued a “market outperform” rating and set a $250.00 target price on shares of Paylocity in a research note on Monday, August 5th. TD Cowen cut their target price on shares of Paylocity from $180.00 to $153.00 and set a “buy” rating for the company in a research note on Thursday, June 20th. Finally, Robert W. Baird cut their target price on shares of Paylocity from $225.00 to $195.00 and set an “outperform” rating for the company in a research note on Tuesday, June 18th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Paylocity has a consensus rating of “Moderate Buy” and an average target price of $181.07.

Paylocity Trading Up 1.1 %

Shares of NASDAQ:PCTY opened at $164.51 on Friday. The company has a 50 day moving average of $159.18 and a 200-day moving average of $154.46. The firm has a market cap of $9.28 billion, a P/E ratio of 47.82, a P/E/G ratio of 3.96 and a beta of 0.95. Paylocity has a twelve month low of $129.94 and a twelve month high of $205.66.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, August 1st. The software maker reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.19. The company had revenue of $357.30 million during the quarter, compared to analyst estimates of $350.29 million. Paylocity had a net margin of 14.74% and a return on equity of 22.17%. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.76 EPS. Equities research analysts forecast that Paylocity will post 4.51 EPS for the current year.

Insider Buying and Selling at Paylocity

In other Paylocity news, SVP Rachit Lohani sold 658 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total value of $107,142.14. Following the transaction, the senior vice president now owns 39,764 shares in the company, valued at approximately $6,474,772.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $142.68, for a total value of $7,054,384.56. Following the transaction, the chief executive officer now owns 1,745,022 shares in the company, valued at approximately $248,979,738.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rachit Lohani sold 658 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total transaction of $107,142.14. Following the completion of the sale, the senior vice president now directly owns 39,764 shares of the company’s stock, valued at $6,474,772.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,632 shares of company stock worth $7,379,399. 22.50% of the stock is currently owned by company insiders.

Institutional Trading of Paylocity

Large investors have recently added to or reduced their stakes in the business. UMB Bank n.a. grew its position in Paylocity by 1,650.0% in the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after acquiring an additional 165 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of Paylocity during the 2nd quarter worth $40,000. J.Safra Asset Management Corp boosted its holdings in shares of Paylocity by 80.0% during the 1st quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock worth $42,000 after buying an additional 108 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Paylocity by 34.7% during the 1st quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock worth $52,000 after buying an additional 78 shares during the period. Finally, RiverPark Advisors LLC boosted its holdings in shares of Paylocity by 152.0% during the 1st quarter. RiverPark Advisors LLC now owns 383 shares of the software maker’s stock worth $66,000 after buying an additional 231 shares during the period. 94.76% of the stock is owned by institutional investors.

About Paylocity

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.