Paylocity (NASDAQ:PCTY) Given New $180.00 Price Target at Mizuho

Paylocity (NASDAQ:PCTY) had its price objective boosted by stock analysts at Mizuho from $175.00 to $180.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the software maker’s stock. Mizuho’s price target indicates a potential downside of 6.18% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. BTIG Research decreased their target price on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. JMP Securities reissued a “market outperform” rating and set a $250.00 target price on shares of Paylocity in a research note on Monday, August 5th. StockNews.com raised Paylocity from a “hold” rating to a “buy” rating in a report on Friday. Jefferies Financial Group increased their target price on shares of Paylocity from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday. Finally, BMO Capital Markets boosted their price target on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.20.

Paylocity Stock Performance

Shares of NASDAQ PCTY opened at $191.85 on Monday. The stock has a market cap of $10.70 billion, a price-to-earnings ratio of 49.07, a PEG ratio of 4.46 and a beta of 0.93. Paylocity has a 12 month low of $129.94 and a 12 month high of $192.61. The company has a 50 day simple moving average of $165.67 and a two-hundred day simple moving average of $155.06. The company has a current ratio of 1.32, a quick ratio of 1.13 and a debt-to-equity ratio of 0.29.

Paylocity (NASDAQ:PCTY) last issued its earnings results on Thursday, August 1st. The software maker reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.19. The firm had revenue of $357.30 million for the quarter, compared to the consensus estimate of $350.29 million. Paylocity had a return on equity of 22.92% and a net margin of 15.32%. The company’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 earnings per share. As a group, analysts predict that Paylocity will post 4.51 earnings per share for the current year.

Insider Buying and Selling

In other Paylocity news, SVP Rachit Lohani sold 658 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total transaction of $107,142.14. Following the completion of the transaction, the senior vice president now owns 39,764 shares of the company’s stock, valued at $6,474,772.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 21.91% of the company’s stock.

Hedge Funds Weigh In On Paylocity

A number of hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in Paylocity by 3.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock valued at $1,518,176,000 after purchasing an additional 278,607 shares during the period. Liontrust Investment Partners LLP boosted its holdings in Paylocity by 27.1% during the 2nd quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock valued at $106,840,000 after acquiring an additional 172,807 shares during the period. Van Berkom & Associates Inc. grew its position in Paylocity by 20.5% in the 2nd quarter. Van Berkom & Associates Inc. now owns 579,801 shares of the software maker’s stock valued at $76,447,000 after acquiring an additional 98,478 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Paylocity by 4.7% during the second quarter. Bank of New York Mellon Corp now owns 472,686 shares of the software maker’s stock worth $62,324,000 after purchasing an additional 21,127 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Paylocity by 58.3% in the second quarter. Dimensional Fund Advisors LP now owns 335,946 shares of the software maker’s stock valued at $44,296,000 after purchasing an additional 123,744 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Company Profile

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.