Stifel Nicolaus Lowers Paylocity (NASDAQ:PCTY) Price Target to $235.00

Paylocity (NASDAQ:PCTY - Get Free Report) had its price objective lowered by stock analysts at Stifel Nicolaus from $250.00 to $235.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the software maker's stock. Stifel Nicolaus' price objective would indicate a potential upside of 25.45% from the company's current price.

Other analysts have also issued reports about the company. Mizuho cut their price target on Paylocity from $245.00 to $220.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Barclays reduced their price target on Paylocity from $231.00 to $204.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. TD Cowen lowered their price objective on shares of Paylocity from $235.00 to $228.00 and set a "buy" rating on the stock in a report on Monday, January 6th. BMO Capital Markets increased their target price on shares of Paylocity from $210.00 to $226.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $250.00 price target on shares of Paylocity in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $223.00.

Paylocity Stock Down 3.5 %

Shares of NASDAQ PCTY traded down $6.83 during mid-day trading on Friday, reaching $187.33. 804,587 shares of the company's stock were exchanged, compared to its average volume of 470,298. 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 business has a fifty day simple moving average of $188.97 and a 200 day simple moving average of $196.52. Paylocity has a twelve month low of $129.94 and a twelve month high of $223.80. The firm has a market capitalization of $10.47 billion, a price-to-earnings ratio of 48.03, a PEG ratio of 4.49 and a beta of 0.58.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its 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 net margin of 14.76% and a return on equity of 22.45%. The firm had revenue of $454.55 million for the quarter, compared to the consensus estimate of $441.77 million. During the same period last year, the company posted $2.21 EPS. The business's quarterly revenue was up 13.3% on a year-over-year basis. As a group, equities analysts expect that Paylocity will post 4.36 EPS for the current fiscal year.

Insider Buying and Selling at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 21.91% of the company's stock.

Hedge Funds Weigh In On Paylocity

Large investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in Paylocity during the 4th quarter worth $29,000. USA Financial Formulas bought a new position in Paylocity during the first quarter worth about $29,000. Hughes Financial Services LLC acquired a new stake in Paylocity in the 1st quarter worth about $48,000. UMB Bank n.a. boosted its holdings in Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock valued at $49,000 after purchasing an additional 72 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of Paylocity by 489.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock worth $54,000 after purchasing an additional 225 shares in the last quarter. 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.