Paylocity (NASDAQ:PCTY) Given New $250.00 Price Target at KeyCorp

Paylocity (NASDAQ:PCTY) had its price target increased by KeyCorp from $220.00 to $250.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an overweight rating on the software maker’s stock.

PCTY has been the topic of a number of other reports. Piper Sandler reaffirmed an “overweight” rating and set a $254.00 price target (up from $212.00) on shares of Paylocity in a report on Thursday. Jefferies Financial Group raised their target price on Paylocity from $215.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. TD Cowen cut their price objective on Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Needham & Company LLC increased their target price on Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Mizuho upgraded shares of Paylocity from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $200.00 to $235.00 in a report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $233.25.

Paylocity Stock Down 2.9 %

NASDAQ:PCTY opened at $205.84 on Friday. Paylocity has a 1-year low of $129.94 and a 1-year high of $223.80. The company has a market capitalization of $11.48 billion, a PE ratio of 52.78, a P/E/G ratio of 5.19 and a beta of 0.95. The firm’s 50-day moving average price is $201.32 and its 200-day moving average price is $180.76. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.93%. On average, equities analysts predict that Paylocity will post 4.46 EPS for the current fiscal year.

Insider Buying and Selling at Paylocity

In other Paylocity news, SVP Andrew Cappotelli sold 247 shares of Paylocity stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total transaction of $47,742.63. Following the completion of the transaction, the senior vice president now owns 14,634 shares in the company, valued at approximately $2,828,605.86. The trade was a 1.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey T. Diehl sold 946 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $204.74, for a total transaction of $193,684.04. Following the completion of the transaction, the director now directly owns 1,767 shares of the company’s stock, valued at approximately $361,775.58. This represents a 34.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,380 shares of company stock worth $25,830,669 over the last 90 days. Corporate insiders own 21.91% of the company’s stock.

Hedge Funds Weigh In On Paylocity

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UMB Bank n.a. increased its holdings in Paylocity by 1,650.0% during the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after purchasing an additional 165 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Paylocity in the fourth quarter valued at $29,000. Prospera Private Wealth LLC acquired a new position in Paylocity during the 3rd quarter worth $39,000. Signaturefd LLC increased its position in shares of Paylocity by 121.0% in the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after purchasing an additional 167 shares during the last quarter. Finally, Quarry LP lifted its position in shares of Paylocity by 149.2% during the third quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after purchasing an additional 185 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Paylocity Company Profile

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.