Paylocity Holding Corporation (NASDAQ:PCTY) Given Consensus Rating of “Moderate Buy” by Analysts

Paylocity Holding Corporation (NASDAQ:PCTY) has been assigned an average recommendation of “Moderate Buy” from the twenty-two brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and sixteen have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $183.1429.

Several equities analysts have recently weighed in on the company. KeyCorp cut their target price on Paylocity from $225.00 to $190.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. Barclays set a $146.00 target price on Paylocity in a research report on Friday, February 6th. BMO Capital Markets lowered their price target on Paylocity from $185.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, February 6th. Citizens Jmp reduced their price objective on Paylocity from $245.00 to $170.00 and set a “market outperform” rating on the stock in a report on Friday, February 6th. Finally, Mizuho lowered their price target on shares of Paylocity from $180.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, February 6th.

Insider Activity

In other news, CFO Ryan Glenn sold 1,737 shares of Paylocity stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $143.65, for a total value of $249,520.05. Following the transaction, the chief financial officer owned 77,229 shares of the company’s stock, valued at $11,093,945.85. The trade was a 2.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 19.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Paylocity

Institutional investors and hedge funds have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale increased its position in shares of Paylocity by 0.9% during the second quarter. DekaBank Deutsche Girozentrale now owns 6,148 shares of the software maker’s stock worth $1,097,000 after purchasing an additional 54 shares in the last quarter. Verdence Capital Advisors LLC raised its position in shares of Paylocity by 5.7% in the 2nd quarter. Verdence Capital Advisors LLC now owns 1,205 shares of the software maker’s stock valued at $218,000 after purchasing an additional 65 shares during the last quarter. ProShare Advisors LLC boosted its stake in Paylocity by 3.3% in the 2nd quarter. ProShare Advisors LLC now owns 2,055 shares of the software maker’s stock worth $372,000 after purchasing an additional 65 shares in the last quarter. Federated Hermes Inc. increased its stake in Paylocity by 1.6% during the 3rd quarter. Federated Hermes Inc. now owns 4,848 shares of the software maker’s stock valued at $772,000 after purchasing an additional 78 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in Paylocity by 47.4% in the 2nd quarter. SBI Securities Co. Ltd. now owns 252 shares of the software maker’s stock worth $46,000 after acquiring an additional 81 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Paylocity Price Performance

PCTY stock opened at $104.20 on Friday. Paylocity has a one year low of $101.39 and a one year high of $218.74. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.04. The company’s fifty day moving average price is $142.34 and its 200-day moving average price is $154.74. The company has a market capitalization of $5.61 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 3.14 and a beta of 0.54.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, February 5th. The software maker reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.28. Paylocity had a return on equity of 23.44% and a net margin of 14.19%.The business had revenue of $416.13 million during the quarter, compared to analysts’ expectations of $408.37 million. During the same quarter last year, the business posted $1.52 EPS. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, equities analysts anticipate that Paylocity will post 4.36 EPS for the current fiscal year.

About Paylocity

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.