Paylocity (NASDAQ:PCTY - Get Free Report) had its price objective boosted by research analysts at UBS Group from $201.00 to $202.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the software maker's stock. UBS Group's price objective would indicate a potential upside of 12.38% from the stock's current price.
A number of other research firms have also weighed in on PCTY. BMO Capital Markets raised their price objective on shares of Paylocity from $226.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday. JMP Securities restated a "market outperform" rating and issued a $270.00 price objective on shares of Paylocity in a report on Tuesday, April 29th. Citigroup lowered their price objective on Paylocity from $225.00 to $218.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. Raymond James Financial set a $220.00 target price on Paylocity and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Finally, KeyCorp boosted their price target on Paylocity from $220.00 to $225.00 and gave the stock an "overweight" rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $223.19.
Get Our Latest Report on Paylocity
Paylocity Stock Down 2.1%
Shares of Paylocity stock traded down $3.95 during trading on Wednesday, hitting $179.75. The company's stock had a trading volume of 106,973 shares, compared to its average volume of 475,884. Paylocity has a 52 week low of $146.02 and a 52 week high of $223.80. The company has a market capitalization of $9.93 billion, a PE ratio of 44.99, a P/E/G ratio of 3.70 and a beta of 0.54. The company has a fifty day simple moving average of $183.73 and a two-hundred day simple moving average of $191.43. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.13 and a current ratio of 1.14.
Paylocity (NASDAQ:PCTY - Get Free Report) last announced its earnings results on Tuesday, August 5th. The software maker reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.38 by $0.18. Paylocity had a net margin of 14.24% and a return on equity of 22.08%. The business had revenue of $400.74 million during the quarter, compared to the consensus estimate of $388.25 million. During the same quarter last year, the firm earned $1.48 earnings per share. The business's revenue for the quarter was up 12.2% on a year-over-year basis. Equities research analysts predict that Paylocity will post 4.36 earnings per share for the current year.
Insider Activity
In other news, SVP Andrew Cappotelli sold 1,717 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $176.74, for a total value of $303,462.58. Following the transaction, the senior vice president owned 11,953 shares in the company, valued at $2,112,573.22. This represents a 12.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 21.91% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in PCTY. TCTC Holdings LLC raised its holdings in Paylocity by 115.9% in the 1st quarter. TCTC Holdings LLC now owns 149 shares of the software maker's stock worth $28,000 after purchasing an additional 80 shares during the period. USA Financial Formulas bought a new position in shares of Paylocity in the first quarter worth about $29,000. SBI Securities Co. Ltd. lifted its position in shares of Paylocity by 47.4% during the 2nd quarter. SBI Securities Co. Ltd. now owns 252 shares of the software maker's stock valued at $46,000 after buying an additional 81 shares in the last quarter. Hughes Financial Services LLC bought a new position in shares of Paylocity during the 1st quarter valued at approximately $48,000. Finally, Bayforest Capital Ltd grew its stake in shares of Paylocity by 69.1% during the 1st quarter. Bayforest Capital Ltd now owns 296 shares of the software maker's stock valued at $55,000 after acquiring an additional 121 shares during the period. 94.76% of the stock is currently owned by institutional investors.
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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