Paylocity (NASDAQ:PCTY - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $250.00 price target on the software maker's stock. Needham & Company LLC's price objective points to a potential upside of 34.53% from the company's current price.
Other research analysts have also recently issued reports about the company. UBS Group lifted their price objective on Paylocity from $195.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Scotiabank started coverage on shares of Paylocity in a research report on Wednesday, April 16th. They set a "sector perform" rating and a $190.00 price target on the stock. Mizuho reduced their price target on shares of Paylocity from $245.00 to $220.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Citigroup reduced their price target on shares of Paylocity from $246.00 to $225.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Finally, Wall Street Zen upgraded shares of Paylocity from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Paylocity currently has an average rating of "Moderate Buy" and an average target price of $224.75.
Read Our Latest Analysis on Paylocity
Paylocity Stock Performance
Shares of Paylocity stock traded down $2.11 during midday trading on Friday, hitting $185.84. The company had a trading volume of 33,102 shares, compared to its average volume of 448,740. The business's 50 day simple moving average is $187.28 and its two-hundred day simple moving average is $192.57. The stock has a market cap of $10.26 billion, a PE ratio of 46.15, a P/E/G ratio of 3.58 and a beta of 0.50. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.13 and a quick ratio of 1.13. Paylocity has a 1-year low of $138.74 and a 1-year high of $223.80.
Paylocity (NASDAQ:PCTY - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.34. Paylocity had a net margin of 14.65% and a return on equity of 22.90%. The business had revenue of $454.55 million for the quarter, compared to the consensus estimate of $441.77 million. During the same quarter last year, the company posted $2.21 earnings per share. Paylocity's quarterly revenue was up 13.3% on a year-over-year basis. As a group, equities analysts predict that Paylocity will post 4.36 EPS for the current fiscal year.
Insider Transactions at Paylocity
In other Paylocity news, SVP Andrew Cappotelli sold 1,717 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $176.74, for a total transaction of $303,462.58. Following the completion of the transaction, the senior vice president owned 11,953 shares of the company's stock, valued at $2,112,573.22. This represents a 12.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 21.91% of the company's stock.
Hedge Funds Weigh In On Paylocity
A number of large investors have recently bought and sold shares of PCTY. TCTC Holdings LLC boosted its position in Paylocity by 115.9% during the 1st quarter. TCTC Holdings LLC now owns 149 shares of the software maker's stock worth $28,000 after acquiring an additional 80 shares during the last quarter. USA Financial Formulas acquired a new position in Paylocity during the 1st quarter worth approximately $29,000. Hughes Financial Services LLC acquired a new stake in shares of Paylocity in the 1st quarter valued at approximately $48,000. Bayforest Capital Ltd boosted its holdings in shares of Paylocity by 69.1% in the 1st quarter. Bayforest Capital Ltd now owns 296 shares of the software maker's stock valued at $55,000 after buying an additional 121 shares during the last quarter. Finally, SVB Wealth LLC acquired a new position in Paylocity during the first quarter worth $61,000. Institutional investors and hedge funds own 94.76% of the company's stock.
Paylocity Company Profile
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Paylocity, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Paylocity wasn't on the list.
While Paylocity currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
