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

Paylocity Holding Corporation (NASDAQ:PCTY) has earned an average recommendation of “Moderate Buy” from the nineteen ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, fourteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $160.2778.

PCTY has been the topic of a number of recent research reports. Zacks Research upgraded Paylocity from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 20th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Paylocity in a research report on Friday, April 24th. Raymond James Financial set a $140.00 target price on Paylocity in a research report on Friday, May 8th. KeyCorp dropped their target price on Paylocity from $190.00 to $172.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 28th. Finally, Citigroup upped their target price on Paylocity from $133.00 to $136.00 and gave the company a “buy” rating in a research report on Monday, May 11th.

Insider Buying and Selling

In related news, SVP Andrew Cappotelli sold 899 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $115.05, for a total value of $103,429.95. Following the sale, the senior vice president owned 17,679 shares in the company, valued at $2,033,968.95. This represents a 4.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Paylocity

Several hedge funds have recently bought and sold shares of PCTY. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Paylocity by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,388 shares of the software maker’s stock worth $25,551,000 after purchasing an additional 7,594 shares in the last quarter. Focus Partners Wealth boosted its position in Paylocity by 24.5% in the 1st quarter. Focus Partners Wealth now owns 1,365 shares of the software maker’s stock worth $256,000 after purchasing an additional 269 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Paylocity by 537.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 465 shares of the software maker’s stock worth $84,000 after purchasing an additional 392 shares in the last quarter. Marshall Wace LLP boosted its position in Paylocity by 2,782.7% in the 2nd quarter. Marshall Wace LLP now owns 35,688 shares of the software maker’s stock worth $6,466,000 after purchasing an additional 34,450 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in Paylocity by 10.0% in the 2nd quarter. Cerity Partners LLC now owns 19,241 shares of the software maker’s stock worth $3,486,000 after purchasing an additional 1,749 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $100.51 on Thursday. The business’s 50 day moving average price is $107.15 and its 200 day moving average price is $121.56. The firm has a market cap of $5.38 billion, a P/E ratio of 21.43 and a beta of 0.51. Paylocity has a 52 week low of $92.99 and a 52 week high of $197.78. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.07.

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.