Paylocity Holding Corporation (NASDAQ:PCTY) Receives Average Rating of “Moderate Buy” from Brokerages

Paylocity Holding Corporation (NASDAQ:PCTY) has received an average rating of “Moderate Buy” from the nineteen ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, fourteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $156.6111.

A number of research firms recently commented on PCTY. UBS Group upped their price objective on Paylocity from $114.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Weiss Ratings restated a “sell (d+)” rating on shares of Paylocity in a report on Friday, April 24th. KeyCorp reduced their target price on Paylocity from $190.00 to $172.00 and set an “overweight” rating on the stock in a report on Tuesday, April 28th. Citigroup boosted their target price on Paylocity from $133.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, Citizens Jmp lowered their price target on Paylocity from $170.00 to $150.00 and set a “market outperform” rating for the company in a research note on Friday, May 8th.

Paylocity Stock Performance

PCTY stock opened at $118.50 on Monday. The business’s fifty day moving average is $109.64 and its 200-day moving average is $116.79. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.07. The company has a market cap of $6.34 billion, a P/E ratio of 25.27 and a beta of 0.52. Paylocity has a twelve month low of $92.99 and a twelve month high of $197.78.

Insiders Place Their Bets

In related news, SVP Andrew Cappotelli sold 899 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $115.05, for a total transaction of $103,429.95. Following the completion of the transaction, the senior vice president owned 17,679 shares in the company, valued at approximately $2,033,968.95. The trade was a 4.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Paylocity

Hedge funds have recently bought and sold shares of the company. Optiver Holding B.V. boosted its position in shares of Paylocity by 5,925.0% during the first quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock worth $26,000 after purchasing an additional 237 shares in the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Paylocity in the 4th quarter valued at $27,000. Basecamp Wealth Advisors LLC increased its position in shares of Paylocity by 4,250.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock valued at $28,000 after buying an additional 255 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Paylocity by 363.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker’s stock valued at $29,000 after buying an additional 149 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in Paylocity during the 4th quarter worth $30,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Company Profile

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.