Paylocity (NASDAQ:PCTY) Sets New 1-Year Low – Time to Sell?

Paylocity Holding Corporation (NASDAQ:PCTY) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $101.01 and last traded at $101.25, with a volume of 31825 shares traded. The stock had previously closed at $105.66.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. KeyCorp decreased their price target on shares of Paylocity from $225.00 to $190.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Mizuho cut their target price on Paylocity from $180.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, February 6th. Weiss Ratings lowered Paylocity from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, January 27th. Truist Financial lowered their price objective on Paylocity from $240.00 to $180.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Finally, Barclays set a $146.00 price objective on Paylocity in a research note on Friday, February 6th. Fifteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $180.05.

Paylocity Stock Performance

The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $5.51 billion, a P/E ratio of 24.05, a price-to-earnings-growth ratio of 3.04 and a beta of 0.54. The company’s 50 day moving average is $137.53 and its 200-day moving average is $151.03.

Paylocity (NASDAQ:PCTY) last issued its earnings results on Thursday, February 5th. The software maker reported $1.85 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $408.37 million. During the same period in the previous year, the company posted $1.52 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year. As a group, equities analysts anticipate that Paylocity Holding Corporation will post 4.36 EPS for the current year.

Institutional Trading of Paylocity

Several institutional investors and hedge funds have recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Paylocity by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,388 shares of the software maker’s stock valued at $25,551,000 after purchasing an additional 7,594 shares during the last quarter. Focus Partners Wealth increased its position in shares of Paylocity by 24.5% during the 1st quarter. Focus Partners Wealth now owns 1,365 shares of the software maker’s stock valued at $256,000 after purchasing an additional 269 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Paylocity by 0.9% during the 2nd 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 during the period. Cullen Frost Bankers Inc. boosted its holdings in shares of Paylocity by 16,660.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 838 shares of the software maker’s stock worth $152,000 after buying an additional 833 shares during the last quarter. Finally, Forum Financial Management LP bought a new position in Paylocity during the second quarter valued at about $264,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

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.