Paylocity (NASDAQ:PCTY - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Monday.
PCTY has been the subject of several other reports. Needham & Company LLC reissued a "buy" rating and set a $250.00 price objective on shares of Paylocity in a report on Friday, May 2nd. Citigroup cut their target price on shares of Paylocity from $246.00 to $225.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Mizuho decreased their target price on shares of Paylocity from $245.00 to $220.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Stifel Nicolaus dropped their price target on Paylocity from $250.00 to $235.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, UBS Group lifted their price objective on Paylocity from $195.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $223.00.
Read Our Latest Research Report on Paylocity
Paylocity Stock Up 0.9%
Shares of PCTY stock traded up $1.83 during mid-day trading on Monday, hitting $201.04. The company's stock had a trading volume of 401,084 shares, compared to its average volume of 462,139. The stock has a market cap of $11.10 billion, a price-to-earnings ratio of 51.55, a PEG ratio of 4.49 and a beta of 0.58. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. Paylocity has a 52-week low of $129.94 and a 52-week high of $223.80. The business has a 50-day moving average price of $188.04 and a 200 day moving average price of $197.45.
Paylocity (NASDAQ:PCTY - Get Free Report) last released its quarterly earnings data 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 company had revenue of $454.55 million during the quarter, compared to the consensus estimate of $441.77 million. During the same period last year, the company earned $2.21 EPS. Paylocity's revenue for the quarter was up 13.3% on a year-over-year basis. Research analysts predict that Paylocity will post 4.36 EPS for the current fiscal year.
Insider Transactions at Paylocity
In other news, Director Steven I. Sarowitz sold 26,252 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.91, for a total value of $5,116,777.32. Following the completion of the sale, the director now directly owns 420,000 shares of the company's stock, valued at $81,862,200. This represents a 5.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 21.91% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of PCTY. Vanguard Group Inc. boosted its stake in shares of Paylocity by 7.0% in the first quarter. Vanguard Group Inc. now owns 4,312,832 shares of the software maker's stock worth $807,966,000 after acquiring an additional 283,430 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Paylocity by 3.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,287,514 shares of the software maker's stock worth $803,224,000 after buying an additional 141,705 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Paylocity by 0.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,987,037 shares of the software maker's stock worth $746,932,000 after buying an additional 13,027 shares in the last quarter. Invesco Ltd. boosted its position in shares of Paylocity by 31.7% during the fourth quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker's stock worth $265,737,000 after acquiring an additional 320,319 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Paylocity by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 1,073,988 shares of the software maker's stock valued at $214,275,000 after acquiring an additional 25,182 shares in the last quarter. Institutional investors own 94.76% of the company's stock.
About Paylocity
(
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.
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