Paylocity (NASDAQ:PCTY) Price Target Raised to $210.00 at KeyCorp

Paylocity (NASDAQ:PCTY) had its price target hoisted by KeyCorp from $187.00 to $210.00 in a research note published on Thursday, Benzinga reports. They currently have an overweight rating on the software maker’s stock.

A number of other brokerages also recently issued reports on PCTY. Needham & Company LLC boosted their price objective on shares of Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday. Mizuho boosted their target price on shares of Paylocity from $155.00 to $175.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Barclays increased their target price on shares of Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday. Piper Sandler upped their price objective on Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, BTIG Research lowered their price target on Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Paylocity currently has an average rating of “Moderate Buy” and an average target price of $193.87.

Paylocity Stock Up 3.3 %

Shares of PCTY traded up $6.03 during trading hours on Thursday, hitting $190.60. The company had a trading volume of 244,594 shares, compared to its average volume of 498,593. The firm has a market cap of $10.63 billion, a P/E ratio of 47.20, a P/E/G ratio of 4.31 and a beta of 0.95. The stock’s 50 day moving average price is $164.97 and its 200 day moving average price is $154.91. Paylocity has a 52-week low of $129.94 and a 52-week high of $192.61.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, August 1st. The software maker reported $1.48 EPS for the quarter, topping the consensus estimate of $1.29 by $0.19. Paylocity had a net margin of 15.32% and a return on equity of 23.29%. The business had revenue of $357.30 million for the quarter, compared to analyst estimates of $350.29 million. During the same quarter in the previous year, the firm posted $0.76 earnings per share. Paylocity’s quarterly revenue was up 15.8% on a year-over-year basis. On average, research analysts expect that Paylocity will post 4.51 EPS for the current fiscal year.

Insider Transactions at Paylocity

In other Paylocity news, SVP Rachit Lohani sold 658 shares of Paylocity stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total value of $107,142.14. Following the completion of the transaction, the senior vice president now directly owns 39,764 shares in the company, valued at $6,474,772.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 21.91% of the company’s stock.

Institutional Trading of Paylocity

Institutional investors have recently bought and sold shares of the company. FORA Capital LLC bought a new position in shares of Paylocity during the 1st quarter valued at $1,540,000. BNP Paribas Financial Markets lifted its position in shares of Paylocity by 55.2% in the first quarter. BNP Paribas Financial Markets now owns 36,818 shares of the software maker’s stock worth $6,328,000 after buying an additional 13,093 shares during the last quarter. Cetera Advisors LLC bought a new stake in shares of Paylocity during the 1st quarter worth about $729,000. Price T Rowe Associates Inc. MD raised its stake in shares of Paylocity by 3.3% in the 1st 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 acquiring an additional 278,607 shares in the last quarter. Finally, Capital Research Global Investors acquired a new stake in Paylocity in the 1st quarter worth approximately $46,902,000. 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.