Paylocity (NASDAQ:PCTY) Price Target Raised to $220.00

Paylocity (NASDAQ:PCTY) had its price target hoisted by UBS Group from $211.00 to $220.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a neutral rating on the software maker’s stock.

Several other research firms have also commented on PCTY. BMO Capital Markets increased their price objective on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Truist Financial increased their price target on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, November 1st. StockNews.com raised Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday, December 7th. TD Cowen decreased their target price on Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Stifel Nicolaus boosted their price target on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Friday. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $233.25.

Paylocity Stock Performance

Shares of Paylocity stock opened at $205.84 on Friday. Paylocity has a 52 week low of $129.94 and a 52 week high of $223.80. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average price of $201.32 and a 200-day moving average price of $180.76. The company has a market cap of $11.48 billion, a PE ratio of 52.78, a price-to-earnings-growth ratio of 5.19 and a beta of 0.95.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.93%. Equities analysts anticipate that Paylocity will post 4.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Steven I. Sarowitz sold 2,600 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $200.14, for a total transaction of $520,364.00. Following the sale, the director now directly owns 8,332,347 shares in the company, valued at approximately $1,667,635,928.58. The trade was a 0.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Andrew Cappotelli sold 247 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total value of $47,742.63. Following the completion of the transaction, the senior vice president now owns 14,634 shares of the company’s stock, valued at approximately $2,828,605.86. This represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,380 shares of company stock worth $25,830,669 over the last 90 days. Corporate insiders own 21.91% of the company’s stock.

Institutional Trading of Paylocity

Several institutional investors and hedge funds have recently bought and sold shares of PCTY. Sanctuary Advisors LLC purchased a new stake in shares of Paylocity in the second quarter worth $194,000. SG Americas Securities LLC raised its holdings in shares of Paylocity by 20.7% in the 3rd quarter. SG Americas Securities LLC now owns 7,053 shares of the software maker’s stock valued at $1,164,000 after acquiring an additional 1,210 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Paylocity by 1,650.0% during the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after acquiring an additional 165 shares during the last quarter. Creative Planning purchased a new position in shares of Paylocity during the third quarter worth about $267,000. Finally, NBC Securities Inc. bought a new position in shares of Paylocity in the third quarter worth approximately $290,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

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.