Paylocity Holding Corporation (NASDAQ:PCTY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Paylocity Holding Corporation (NASDAQ:PCTY) has received a consensus rating of “Moderate Buy” from the seventeen brokerages that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $160.5294.

PCTY has been the subject of a number of research reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Paylocity in a research note on Wednesday, August 5th. TD Cowen raised their target price on shares of Paylocity from $168.00 to $177.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. UBS Group increased their price objective on shares of Paylocity from $122.00 to $128.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Robert W. Baird set a $201.00 price objective on shares of Paylocity in a report on Wednesday, August 5th. Finally, Truist Financial reduced their price objective on shares of Paylocity from $180.00 to $165.00 and set a “buy” rating for the company in a research note on Monday, June 29th.

Insider Transactions at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 19,459 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $157.78, for a total value of $3,070,241.02. Following the completion of the transaction, the director directly owned 4,453,495 shares in the company, valued at approximately $702,672,441.10. The trade was a 0.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joshua Scutt sold 4,730 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $149.82, for a total transaction of $708,648.60. Following the sale, the senior vice president directly owned 75,729 shares of the company’s stock, valued at approximately $11,345,718.78. The trade was a 5.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 54,145 shares of company stock worth $8,312,067. Company insiders own 19.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Optiver Holding B.V. boosted its stake in Paylocity by 5,925.0% in the first quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock valued at $26,000 after acquiring an additional 237 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Paylocity during the second quarter worth $27,000. Basecamp Wealth Advisors LLC lifted its holdings in shares of Paylocity by 4,250.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock valued at $28,000 after purchasing an additional 255 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Paylocity during the 4th quarter valued at $30,000. Finally, Elevation Wealth Partners LLC boosted its position in shares of Paylocity by 500.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker’s stock worth $36,000 after purchasing an additional 285 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Paylocity Stock Down 1.4%

Shares of NASDAQ:PCTY opened at $152.25 on Tuesday. The business’s 50 day moving average is $136.65 and its 200 day moving average is $117.84. The stock has a market cap of $8.08 billion, a P/E ratio of 30.76 and a beta of 0.45. Paylocity has a 52-week low of $92.99 and a 52-week high of $178.91. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07.

Paylocity (NASDAQ:PCTY) last issued its earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.22. Paylocity had a return on equity of 27.02% and a net margin of 15.23%.The business had revenue of $444.73 million during the quarter, compared to analysts’ expectations of $431.46 million. During the same period in the prior year, the business earned $1.56 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Sell-side analysts predict that Paylocity will post 6.92 EPS for the current year.

Paylocity Company Profile

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.