Paylocity Holding Corporation (NASDAQ:PCTY – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen research firms that are covering the stock, Marketbeat Ratings reports. Five investment 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 analysts that have covered the stock in the last year is $163.29.
A number of equities research analysts have recently weighed in on the company. KeyCorp boosted their target price on Paylocity from $172.00 to $178.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. BMO Capital Markets increased their price objective on Paylocity from $143.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Barclays boosted their price target on shares of Paylocity from $128.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 5th. Truist Financial cut their price objective on Paylocity from $180.00 to $165.00 and set a “buy” rating for the company in a report on Monday, June 29th. Finally, Robert W. Baird set a $201.00 price target on Paylocity in a report on Wednesday, August 5th.
Check Out Our Latest Report on PCTY
Paylocity Trading Down 1.5%
Paylocity (NASDAQ:PCTY – Get Free Report) last released its earnings results on Tuesday, August 4th. The software maker reported $1.84 EPS for the quarter, beating the consensus estimate of $1.62 by $0.22. The firm had revenue of $444.73 million during the quarter, compared to analysts’ expectations of $431.46 million. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.56 EPS. On average, research analysts forecast that Paylocity will post 6.92 EPS for the current fiscal year.
Insider Transactions at Paylocity
In related news, SVP Andrew Cappotelli sold 2,550 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $149.83, for a total transaction of $382,066.50. Following the sale, the senior vice president owned 44,329 shares in the company, valued at $6,641,814.07. The trade was a 5.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Sarowitz sold 19,459 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $157.78, for a total transaction of $3,070,241.02. Following the transaction, the director owned 4,453,495 shares of the company’s stock, valued at approximately $702,672,441.10. The trade was a 0.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 54,214 shares of company stock valued at $8,322,580. Company insiders own 19.40% of the company’s stock.
Institutional Trading of Paylocity
Institutional investors and hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc lifted its stake in shares of Paylocity by 1.8% in the 3rd quarter. Versant Capital Management Inc now owns 4,639 shares of the software maker’s stock valued at $661,000 after purchasing an additional 82 shares during the last quarter. State of Michigan Retirement System increased its position in Paylocity by 1.0% during the first quarter. State of Michigan Retirement System now owns 10,472 shares of the software maker’s stock valued at $1,131,000 after acquiring an additional 100 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Paylocity by 3.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,419 shares of the software maker’s stock valued at $521,000 after acquiring an additional 106 shares during the period. State of Wyoming lifted its holdings in shares of Paylocity by 16.0% in the 1st quarter. State of Wyoming now owns 861 shares of the software maker’s stock worth $93,000 after acquiring an additional 119 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Paylocity by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 7,382 shares of the software maker’s stock worth $1,126,000 after acquiring an additional 122 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.
Paylocity Company Profile
Paylocity Holding Corporation (NASDAQ:PCTY) provides cloud-based human capital management (HCM) software for organizations and their employees. Its platform is designed to help businesses manage payroll, human resources, employee benefits, workforce administration and related compliance activities through a unified system.
The company’s products and services include payroll processing, tax and regulatory support, time and labor management, benefits administration, talent acquisition and management, employee performance tools, expense management, reporting and analytics.
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