Barclays Issues Pessimistic Forecast for Paylocity (NASDAQ:PCTY) Stock Price

Paylocity (NASDAQ:PCTY - Free Report) had its price objective lowered by Barclays from $231.00 to $204.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the software maker's stock.

A number of other equities analysts have also recently weighed in on the stock. UBS Group increased their price objective on shares of Paylocity from $211.00 to $220.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Raymond James restated an "outperform" rating and set a $265.00 price target (up from $215.00) on shares of Paylocity in a research report on Friday, February 7th. Jefferies Financial Group boosted their price objective on Paylocity from $240.00 to $255.00 and gave the company a "buy" rating in a report on Friday, February 7th. TD Cowen lowered their target price on Paylocity from $235.00 to $228.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, Scotiabank started coverage on shares of Paylocity in a research note on Wednesday, April 16th. They set a "sector perform" rating and a $190.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $226.47.

Paylocity Trading Up 1.4 %

PCTY traded up $2.60 during trading hours on Monday, reaching $191.11. The company's stock had a trading volume of 342,888 shares, compared to its average volume of 480,164. The business's 50-day moving average is $190.56 and its 200-day moving average is $195.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market cap of $10.68 billion, a PE ratio of 49.00, a P/E/G ratio of 4.49 and a beta of 0.76. Paylocity has a fifty-two week low of $129.94 and a fifty-two week high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. As a group, equities research analysts predict that Paylocity will post 4.36 earnings per share for the current fiscal year.

Insider Activity at Paylocity

In other news, Director Steven I. Sarowitz sold 26,252 shares of the company'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. This represents a 5.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 21.91% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Paylocity

Several institutional investors have recently added to or reduced their stakes in PCTY. SBI Securities Co. Ltd. acquired a new stake in Paylocity during the fourth quarter worth approximately $29,000. USA Financial Formulas purchased a new stake in Paylocity in the first quarter valued at $29,000. UMB Bank n.a. boosted its stake in Paylocity by 41.1% in the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock valued at $49,000 after acquiring an additional 72 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Paylocity by 489.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock worth $54,000 after purchasing an additional 225 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in shares of Paylocity by 29.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock worth $55,000 after purchasing an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.

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.