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

Paylocity Holding Co. (NASDAQ:PCTY - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seventeen analysts that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $223.00.

A number of research firms recently commented on PCTY. UBS Group increased their price target on Paylocity from $195.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. KeyCorp decreased their price objective on Paylocity from $250.00 to $220.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Barclays increased their price objective on Paylocity from $204.00 to $209.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Scotiabank began coverage on Paylocity in a research report on Wednesday, April 16th. They issued a "sector perform" rating and a $190.00 price objective on the stock. Finally, Wall Street Zen upgraded Paylocity from a "hold" rating to a "buy" rating in a research report on Monday, May 12th.

Insider Transactions at Paylocity

In related news, Director Steven I. Sarowitz sold 26,252 shares of the firm's stock in a transaction on 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 sale, the director now owns 420,000 shares of the company's stock, valued at approximately $81,862,200. This trade represents a 5.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 21.91% of the stock is owned by corporate insiders.

Institutional Trading of Paylocity

Several hedge funds have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Paylocity by 0.5% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker's stock worth $1,916,000 after buying an additional 49 shares during the period. Bessemer Group Inc. raised its stake in Paylocity by 0.3% during the 4th quarter. Bessemer Group Inc. now owns 19,118 shares of the software maker's stock worth $3,813,000 after buying an additional 51 shares during the period. Associated Banc Corp raised its stake in Paylocity by 4.5% during the 1st quarter. Associated Banc Corp now owns 1,207 shares of the software maker's stock worth $226,000 after buying an additional 52 shares during the period. Cresset Asset Management LLC raised its stake in Paylocity by 2.4% during the 1st quarter. Cresset Asset Management LLC now owns 2,613 shares of the software maker's stock worth $490,000 after buying an additional 62 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Paylocity by 29.9% in the 4th 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 during the period. Institutional investors and hedge funds own 94.76% of the company's stock.

Paylocity Stock Up 0.3%

NASDAQ PCTY opened at $194.28 on Friday. The firm has a market cap of $10.73 billion, a PE ratio of 49.82, a price-to-earnings-growth ratio of 4.49 and a beta of 0.53. Paylocity has a one year low of $129.94 and a one year high of $223.80. The stock's 50 day simple moving average is $189.70 and its 200 day simple moving average is $197.01. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14.

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

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.

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