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

Paylocity Holding Corporation (NASDAQ:PCTY) has received a consensus rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $160.00.

A number of equities analysts have recently issued reports on the company. TD Cowen increased their price target on Paylocity from $137.00 to $168.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Barclays boosted their target price on shares of Paylocity from $128.00 to $154.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 5th. Citigroup reiterated a “buy” rating on shares of Paylocity in a report on Thursday, August 6th. Stephens decreased their price target on Paylocity from $160.00 to $120.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Finally, BMO Capital Markets lifted their price objective on shares of Paylocity from $143.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th.

Insider Activity at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 11,136 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $150.81, for a total transaction of $1,679,420.16. Following the sale, the director directly owned 4,535,052 shares of the company’s stock, valued at approximately $683,931,192.12. This trade represents a 0.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew Cappotelli sold 899 shares of the firm’s stock in a transaction dated 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 directly owned 17,679 shares in the company, valued at approximately $2,033,968.95. This trade represents a 4.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 19.40% of the company’s stock.

Institutional Trading of Paylocity

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ieq Capital LLC acquired a new stake in shares of Paylocity during the 2nd quarter valued at about $20,119,000. Callan Family Office LLC purchased a new stake in shares of Paylocity during the second quarter worth about $266,000. Allworth Financial LP acquired a new position in shares of Paylocity during the second quarter valued at approximately $338,000. Oxford Financial Group LTD. LLC purchased a new position in Paylocity in the 2nd quarter valued at $250,000. Finally, Vise Technologies Inc. purchased a new position in shares of Paylocity in the second quarter worth about $639,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Stock Performance

Paylocity stock opened at $145.05 on Friday. Paylocity has a 1-year low of $92.99 and a 1-year high of $182.83. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $7.70 billion, a P/E ratio of 29.30 and a beta of 0.48. The company’s 50-day moving average is $120.11 and its 200 day moving average is $114.61.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.84 EPS for the quarter, beating the consensus estimate of $1.62 by $0.22. The company had revenue of $444.73 million for the quarter, compared to the consensus estimate of $431.46 million. Paylocity had a return on equity of 27.02% and a net margin of 15.23%.Paylocity’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.56 EPS. Research analysts forecast that Paylocity will post 6.54 EPS for the current year.

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.