Shares of Paylocity Holding Corporation (NASDAQ:PCTY – Get Free Report) have earned an average recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $220.88.
Several brokerages have recently issued reports on PCTY. Citigroup lowered their price target on Paylocity from $225.00 to $218.00 and set a “buy” rating on the stock in a research report on Monday, July 21st. Jefferies Financial Group lowered their target price on Paylocity from $255.00 to $235.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. 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 report on Friday, May 2nd. Raymond James Financial reduced their price objective on Paylocity from $235.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $258.00 target price (up previously from $254.00) on shares of Paylocity in a research report on Friday, May 2nd.
View Our Latest Report on Paylocity
Insider Activity
Institutional Investors Weigh In On Paylocity
A number of institutional investors have recently added to or reduced their stakes in PCTY. TCTC Holdings LLC raised its holdings in shares of 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 buying an additional 80 shares in the last quarter. USA Financial Formulas acquired a new position in Paylocity during the first quarter worth $29,000. Hughes Financial Services LLC acquired a new position in Paylocity during the first quarter worth $48,000. Bayforest Capital Ltd lifted its holdings in shares of Paylocity by 69.1% during the first 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. Finally, SVB Wealth LLC acquired a new stake in shares of Paylocity in the 1st quarter valued at $61,000. 94.76% of the stock is owned by institutional investors and hedge funds.
Paylocity Trading Down 2.1%
NASDAQ:PCTY opened at $186.41 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.20. The company’s 50 day moving average is $185.03 and its 200-day moving average is $191.91. The firm has a market cap of $10.30 billion, a price-to-earnings ratio of 46.49, a P/E/G ratio of 3.74 and a beta of 0.50. Paylocity has a 12 month low of $142.00 and a 12 month high of $223.80.
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. The firm had revenue of $454.55 million for the quarter, compared to the consensus estimate of $441.77 million. Paylocity had a net margin of 14.65% and a return on equity of 22.90%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.21 EPS. Equities analysts anticipate that Paylocity will post 4.36 EPS for the current year.
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.
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