Paylocity Holding Co. (NASDAQ:PCTY) Receives Consensus Rating of "Moderate Buy" from Analysts

Paylocity Holding Co. (NASDAQ:PCTY - Get Free Report) has been given an average rating of "Moderate Buy" by the seventeen ratings firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $223.00.

PCTY has been the topic of several analyst reports. Scotiabank initiated coverage on Paylocity in a report on Wednesday, April 16th. They set a "sector perform" rating and a $190.00 price target on the stock. Citigroup reduced their price objective on shares of Paylocity from $246.00 to $225.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Needham & Company LLC restated a "buy" rating and issued a $250.00 price objective on shares of Paylocity in a report on Friday, May 2nd. KeyCorp reduced their price objective on shares of Paylocity from $250.00 to $220.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, JMP Securities restated a "market outperform" rating and issued a $270.00 price objective on shares of Paylocity in a report on Tuesday, April 29th.

Paylocity Price Performance

PCTY traded up $1.83 on Wednesday, hitting $201.04. 401,084 shares of the company's stock were exchanged, compared to its average volume of 462,884. Paylocity has a fifty-two week low of $129.94 and a fifty-two week high of $223.80. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $188.04 and a 200-day moving average price of $197.45. The stock has a market cap of $11.10 billion, a price-to-earnings ratio of 51.55, a P/E/G ratio of 4.49 and a beta of 0.58.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, topping the consensus estimate of $2.09 by $0.34. Paylocity had a return on equity of 22.45% and a net margin of 14.76%. The business had revenue of $454.55 million for the quarter, compared to analyst estimates of $441.77 million. During the same quarter in the previous year, the firm earned $2.21 EPS. The company's quarterly revenue was up 13.3% compared to the same quarter last year. As a group, equities analysts anticipate that Paylocity will post 4.36 earnings per share for the current year.

Insider Transactions at Paylocity

In other news, Director Steven I. Sarowitz sold 26,252 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the completion of the transaction, the director now directly owns 420,000 shares of the company's stock, valued at approximately $81,862,200. The trade was a 5.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 21.91% of the company's stock.

Hedge Funds Weigh In On Paylocity

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Paylocity by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker's stock valued at $1,916,000 after purchasing an additional 49 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Paylocity by 0.3% in the fourth quarter. Bessemer Group Inc. now owns 19,118 shares of the software maker's stock valued at $3,813,000 after purchasing an additional 51 shares in the last quarter. Associated Banc Corp boosted its holdings in Paylocity by 4.5% in the first quarter. Associated Banc Corp now owns 1,207 shares of the software maker's stock valued at $226,000 after purchasing an additional 52 shares in the last quarter. Cresset Asset Management LLC boosted its holdings in Paylocity by 2.4% in the first quarter. Cresset Asset Management LLC now owns 2,613 shares of the software maker's stock valued at $490,000 after purchasing an additional 62 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock valued at $55,000 after purchasing an additional 63 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Paylocity Company Profile

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.