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

Shares of Paylocity Holding Corporation (NASDAQ:PCTY) have earned a consensus rating of “Moderate Buy” from the nineteen brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $160.2778.

Several research analysts recently weighed in on PCTY shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Paylocity in a research report on Friday, April 24th. Raymond James Financial set a $140.00 price target on Paylocity in a research report on Friday, May 8th. KeyCorp lowered their price target on Paylocity from $190.00 to $172.00 and set an “overweight” rating for the company in a research report on Tuesday, April 28th. Citigroup boosted their price target on Paylocity from $133.00 to $136.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Finally, Stephens lowered their price target on Paylocity from $160.00 to $120.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th.

Insider Transactions at Paylocity

In other Paylocity news, SVP Andrew Cappotelli sold 899 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $115.05, for a total transaction of $103,429.95. Following the completion of the sale, the senior vice president owned 17,679 shares of the company’s stock, valued at approximately $2,033,968.95. The trade was a 4.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 19.40% of the company’s stock.

Institutional Investors Weigh In On Paylocity

A number of institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its position in Paylocity by 3.4% during the first quarter. Pacer Advisors Inc. now owns 15,238 shares of the software maker’s stock valued at $1,646,000 after acquiring an additional 507 shares during the period. Parallel Advisors LLC grew its position in Paylocity by 58.8% during the first quarter. Parallel Advisors LLC now owns 451 shares of the software maker’s stock valued at $49,000 after acquiring an additional 167 shares during the period. NewEdge Advisors LLC grew its position in Paylocity by 17.6% during the first quarter. NewEdge Advisors LLC now owns 5,669 shares of the software maker’s stock valued at $612,000 after acquiring an additional 849 shares during the period. Optiver Holding B.V. boosted its position in shares of Paylocity by 5,925.0% in the first quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock worth $26,000 after buying an additional 237 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Paylocity by 17.8% in the first quarter. Bank of America Corp DE now owns 449,722 shares of the software maker’s stock worth $48,588,000 after buying an additional 68,084 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Stock Down 1.5%

Shares of PCTY opened at $99.51 on Thursday. Paylocity has a fifty-two week low of $92.99 and a fifty-two week high of $197.78. The company’s fifty day moving average is $107.11 and its two-hundred day moving average is $120.59. The firm has a market cap of $5.33 billion, a PE ratio of 21.22 and a beta of 0.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.07.

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.