Paylocity Holding Corporation (NASDAQ:PCTY) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Paylocity has a consensus analyst rating of "Moderate Buy" from 19 analysts, with 14 Buy ratings, one Strong Buy, three Holds, and one Sell.
• The average 1-year price target for the stock is about $156.61, though individual targets have recently been adjusted both up and down by different firms.
• Shares opened at $118.50, and the company reported a market cap of $6.34 billion along with relatively low leverage, reflected in a debt-to-equity ratio of 0.07.

Paylocity Holding Corporation (NASDAQ:PCTY - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the nineteen analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, fourteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $156.6111.

A number of equities analysts have recently issued reports on the stock. Robert W. Baird set a $193.00 target price on shares of Paylocity in a research report on Friday, May 8th. Stephens lowered their price target on shares of Paylocity from $160.00 to $120.00 and set an "equal weight" rating for the company in a report on Friday, May 8th. Zacks Research upgraded shares of Paylocity from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 20th. BMO Capital Markets upped their price objective on Paylocity from $135.00 to $143.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. Finally, Citizens Jmp decreased their price objective on Paylocity from $170.00 to $150.00 and set a "market outperform" rating on the stock in a research report on Friday, May 8th.

Insider Buying and Selling at Paylocity

In other news, SVP Andrew Cappotelli sold 899 shares of the company's stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $115.05, for a total transaction of $103,429.95. Following the transaction, the senior vice president owned 17,679 shares of the company's stock, valued at $2,033,968.95. This represents a 4.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is currently owned by insiders.

Institutional Trading of Paylocity

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Optiver Holding B.V. lifted its position in Paylocity by 5,925.0% during the 1st quarter. Optiver Holding B.V. now owns 241 shares of the software maker's stock valued at $26,000 after purchasing an additional 237 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of Paylocity during the 4th quarter worth approximately $27,000. Basecamp Wealth Advisors LLC grew its position in shares of Paylocity by 4,250.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker's stock worth $28,000 after buying an additional 255 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in shares of Paylocity by 363.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker's stock worth $29,000 after buying an additional 149 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Paylocity during the fourth quarter worth approximately $30,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $118.50 on Monday. Paylocity has a 12-month low of $92.99 and a 12-month high of $197.78. The firm's 50-day simple moving average is $109.64 and its 200 day simple moving average is $116.79. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.07. The company has a market cap of $6.34 billion, a price-to-earnings ratio of 25.27 and a beta of 0.52.

About Paylocity

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.

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