Brokerages Set Paylocity Holding Co. (NASDAQ:PCTY) Target Price at $233.25

Shares of Paylocity Holding Co. (NASDAQ:PCTY) have been given an average rating of “Moderate Buy” by the sixteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $233.25.

Several equities analysts recently commented on the company. UBS Group upped their target price on Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Barclays increased their price objective on shares of Paylocity from $214.00 to $231.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. TD Cowen dropped their price target on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Monday, January 6th. JMP Securities increased their price target on shares of Paylocity from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research note on Friday, February 7th. Finally, StockNews.com lowered shares of Paylocity from a “buy” rating to a “hold” rating in a report on Monday, February 10th.

Paylocity Trading Up 0.5 %

Shares of PCTY stock opened at $187.34 on Tuesday. Paylocity has a twelve month low of $129.94 and a twelve month high of $223.80. The company has a market capitalization of $10.47 billion, a price-to-earnings ratio of 48.04, a PEG ratio of 4.49 and a beta of 0.94. The firm has a 50-day moving average price of $201.00 and a 200 day moving average price of $192.96. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. Research analysts forecast that Paylocity will post 4.36 earnings per share for the current fiscal year.

Insider Activity

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.91, for a total value of $5,116,777.32. Following the transaction, the director now owns 420,000 shares in the company, valued at $81,862,200. The trade was a 5.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 21.91% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Certuity LLC acquired a new position in shares of Paylocity in the 4th quarter valued at approximately $232,000. Edgestream Partners L.P. boosted its stake in Paylocity by 222.3% during the 3rd quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock valued at $1,788,000 after acquiring an additional 7,475 shares during the last quarter. Barclays PLC increased its position in shares of Paylocity by 14.3% in the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock worth $7,407,000 after purchasing an additional 5,609 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Paylocity by 5,742.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker’s stock worth $1,165,000 after purchasing an additional 5,742 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Paylocity by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker’s stock worth $46,592,000 after purchasing an additional 4,697 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

About Paylocity

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.