Paylocity (NASDAQ:PCTY) Reaches New 1-Year Low at $139.21

Paylocity Holding Co. (NASDAQ:PCTY)’s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $139.21 and last traded at $139.28, with a volume of 266145 shares changing hands. The stock had previously closed at $142.17.

Analysts Set New Price Targets

PCTY has been the subject of several recent research reports. KeyCorp boosted their price target on Paylocity from $186.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Barclays boosted their price target on Paylocity from $166.00 to $178.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Piper Sandler dropped their price target on Paylocity from $210.00 to $194.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Mizuho dropped their price target on Paylocity from $170.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, February 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $200.00 price target on shares of Paylocity in a research note on Friday, May 3rd. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Paylocity has an average rating of “Moderate Buy” and a consensus target price of $195.69.

Paylocity Price Performance

The stock has a market cap of $7.82 billion, a price-to-earnings ratio of 40.07, a P/E/G ratio of 2.53 and a beta of 0.89. The stock has a fifty day moving average of $161.97 and a 200 day moving average of $162.47.

Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, May 2nd. The software maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.29. Paylocity had a return on equity of 22.08% and a net margin of 14.42%. The firm had revenue of $401.28 million during the quarter, compared to the consensus estimate of $396.93 million. As a group, equities analysts expect that Paylocity Holding Co. will post 3.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jeffrey T. Diehl sold 1,760 shares of Paylocity stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $171.64, for a total transaction of $302,086.40. Following the completion of the transaction, the director now directly owns 14,704 shares in the company, valued at $2,523,794.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Jeffrey T. Diehl sold 20,032 shares of Paylocity stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $168.55, for a total transaction of $3,376,393.60. Following the completion of the transaction, the director now directly owns 16,391 shares in the company, valued at $2,762,703.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey T. Diehl sold 1,760 shares of Paylocity stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $171.64, for a total value of $302,086.40. Following the transaction, the director now owns 14,704 shares of the company’s stock, valued at $2,523,794.56. The disclosure for this sale can be found here. Corporate insiders own 22.50% of the company’s stock.

Institutional Trading of Paylocity

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its position in shares of 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 buying an additional 278,607 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Paylocity by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 4,158,224 shares of the software maker’s stock valued at $685,483,000 after buying an additional 13,962 shares in the last quarter. Wasatch Advisors LP increased its position in shares of Paylocity by 35.0% in the first quarter. Wasatch Advisors LP now owns 2,396,692 shares of the software maker’s stock valued at $411,895,000 after buying an additional 621,946 shares in the last quarter. Capital International Investors increased its position in shares of Paylocity by 119.0% in the fourth quarter. Capital International Investors now owns 1,211,021 shares of the software maker’s stock valued at $199,637,000 after buying an additional 658,057 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Paylocity during the fourth quarter worth approximately $82,172,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

About Paylocity

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.