Paylocity Holding Corporation (NASDAQ:PCTY) Receives $156.61 Consensus PT from Analysts

Paylocity Holding Corporation (NASDAQ:PCTY) has received an average rating of “Moderate Buy” from the eighteen research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $151.1176.

Several equities analysts have recently commented on PCTY shares. Truist Financial lowered their target price on Paylocity from $180.00 to $165.00 and set a “buy” rating for the company in a report on Monday, June 29th. Wall Street Zen lowered Paylocity from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Paylocity in a research note on Friday, April 24th. BMO Capital Markets boosted their price target on shares of Paylocity from $135.00 to $143.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Finally, TD Cowen reduced their price target on shares of Paylocity from $155.00 to $137.00 and set a “buy” rating for the company in a report on Friday, June 26th.

Paylocity Trading Down 0.7%

NASDAQ PCTY opened at $126.00 on Monday. Paylocity has a one year low of $92.99 and a one year high of $197.78. The company has a 50-day simple moving average of $111.40 and a 200-day simple moving average of $116.07. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $6.75 billion, a PE ratio of 26.87 and a beta of 0.52.

Insiders Place Their Bets

In related news, SVP Andrew Cappotelli sold 899 shares of Paylocity stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $115.05, for a total value of $103,429.95. Following the sale, the senior vice president directly owned 17,679 shares in the company, valued at $2,033,968.95. This trade represents a 4.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Paylocity

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in Paylocity by 22.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 555,393 shares of the software maker’s stock valued at $88,459,000 after purchasing an additional 100,400 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Paylocity by 60.8% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 47,486 shares of the software maker’s stock worth $7,249,000 after buying an additional 17,950 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Paylocity by 311.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 432,070 shares of the software maker’s stock worth $65,891,000 after buying an additional 327,082 shares in the last quarter. Tudor Investment Corp ET AL lifted its holdings in shares of Paylocity by 50.7% in the third quarter. Tudor Investment Corp ET AL now owns 83,304 shares of the software maker’s stock valued at $13,268,000 after buying an additional 28,016 shares during the period. Finally, Chicago Capital LLC lifted its holdings in shares of Paylocity by 1,165.0% in the fourth quarter. Chicago Capital LLC now owns 97,579 shares of the software maker’s stock valued at $14,881,000 after buying an additional 89,865 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

About Paylocity

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.