Paylocity Holding Corporation (NASDAQ:PCTY) Stock Has Average Target Price of $165.53

Shares of Paylocity Holding Corporation (NASDAQ:PCTY) have been given an average recommendation of “Moderate Buy” by the seventeen analysts that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $172.12.

Several equities analysts have recently commented on the stock. UBS Group set a $175.00 price target on shares of Paylocity in a research report on Tuesday, September 29th. Wall Street Zen lowered Paylocity from a “buy” rating to a “hold” rating in a report on Saturday. KeyCorp upped their price objective on shares of Paylocity from $172.00 to $178.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Cantor Fitzgerald boosted their target price on Paylocity from $140.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Finally, Barclays lifted their price target on Paylocity from $154.00 to $162.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 13th.

Insider Buying and Selling at Paylocity

In other news, Chairman Steven Beauchamp sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $165.22, for a total transaction of $2,478,300.00. Following the sale, the chairman owned 1,243,389 shares in the company, valued at $205,432,730.58. The trade was a 1.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven I. Sarowitz sold 19,459 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $157.78, for a total transaction of $3,070,241.02. Following the sale, the director directly owned 4,453,495 shares in the company, valued at approximately $702,672,441.10. This trade represents a 0.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 153,840 shares of company stock worth $25,275,479 in the last ninety days. 19.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Paylocity

A number of institutional investors have recently bought and sold shares of PCTY. Optiver Holding B.V. raised its stake in shares of Paylocity by 5,925.0% during the 1st quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock worth $26,000 after purchasing an additional 237 shares in the last quarter. Global Retirement Partners LLC bought a new stake in Paylocity in the second quarter worth approximately $27,000. Basecamp Wealth Advisors LLC boosted its holdings in Paylocity by 4,250.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock worth $28,000 after purchasing an additional 255 shares in the last quarter. Elevation Wealth Partners LLC raised its holdings in Paylocity by 500.0% during the second quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker’s stock valued at $36,000 after buying an additional 285 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Paylocity by 58.8% during the 1st quarter. Parallel Advisors LLC now owns 451 shares of the software maker’s stock worth $49,000 after acquiring an additional 167 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Key Paylocity News

Here are the key news stories impacting Paylocity this week:

• Positive Sentiment: BTIG Research raised its price target on Paylocity from $180 to $200 and maintained a “buy” rating, implying additional upside based on the referenced share price. BTIG Research rating information
• Neutral Sentiment: Director Steven Sarowitz sold a combined 34,626 shares in transactions dated October 22, 23, and 26, generating approximately $6.1 million. All sales were conducted under a pre-arranged Rule 10b5-1 plan, and the transactions reduced his position by less than 1% overall; however, repeated insider selling can still weigh on sentiment. SEC insider transaction filing
• Neutral Sentiment: Reported short interest was listed at zero shares as of October 26, producing a zero-day days-to-cover ratio. This suggests no measurable short-selling pressure, although the figure may reflect a reporting or data issue.
• Negative Sentiment: A Seeking Alpha analysis downgraded Paylocity, arguing that the company needs more aggressive monetization. The report raises concerns about growth and revenue expansion relative to the stock’s valuation. Paylocity Q1 preview and downgrade

Paylocity Price Performance

Shares of PCTY stock opened at $170.07 on Wednesday. Paylocity has a 1-year low of $92.99 and a 1-year high of $178.53. The firm has a fifty day moving average of $153.12 and a two-hundred day moving average of $126.40.

Paylocity (NASDAQ:PCTY) last issued its earnings results on Tuesday, August 4th. The software maker reported $1.84 EPS for the quarter, topping the consensus estimate of $1.62 by $0.22. The firm had revenue of $444.73 million during the quarter, compared to analyst estimates of $431.46 million. During the same quarter in the previous year, the business posted $1.56 EPS. Paylocity’s revenue was up 11.0% compared to the same quarter last year. On average, research analysts forecast that Paylocity will post 6.92 EPS for the current fiscal year.

Paylocity Company Profile

Paylocity Holding Corporation (NASDAQ:PCTY) provides cloud-based human capital management (HCM) and payroll software for organizations. Its platform is designed to help employers manage payroll, human resources, employee benefits, talent acquisition, onboarding, performance, learning, and workforce administration through an integrated system.

The company also offers tools for time and labor management, scheduling, employee communications, engagement, surveys, expense management, and other workplace activities.