Paylocity Holding Corporation (NASDAQ:PCTY) Receives $177.21 Consensus Price Target from Analysts

Shares of Paylocity Holding Corporation (NASDAQ:PCTY – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the nineteen analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $172.7222.

PCTY has been the subject of a number of recent research reports. Barclays decreased their target price on Paylocity from $146.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, April 20th. Wall Street Zen lowered shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Sunday, February 22nd. BMO Capital Markets reduced their target price on shares of Paylocity from $185.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, February 6th. Citigroup reiterated an “outperform” rating on shares of Paylocity in a report on Friday, February 6th. Finally, Stephens set a $160.00 price objective on shares of Paylocity in a report on Friday, January 16th.

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Institutional Trading of Paylocity

Institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. increased its holdings in shares of Paylocity by 1.6% in the 3rd quarter. Federated Hermes Inc. now owns 4,848 shares of the software maker’s stock valued at $772,000 after acquiring an additional 78 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Paylocity by 2.5% in the third quarter. PNC Financial Services Group Inc. now owns 3,313 shares of the software maker’s stock valued at $528,000 after purchasing an additional 81 shares in the last quarter. MGO One Seven LLC increased its stake in Paylocity by 4.7% in the third quarter. MGO One Seven LLC now owns 2,010 shares of the software maker’s stock valued at $320,000 after purchasing an additional 90 shares during the last quarter. Securian Asset Management Inc. increased its stake in Paylocity by 3.1% in the third quarter. Securian Asset Management Inc. now owns 3,355 shares of the software maker’s stock valued at $534,000 after purchasing an additional 100 shares during the last quarter. Finally, State of Michigan Retirement System raised its holdings 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 worth $1,131,000 after purchasing an additional 100 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Paylocity Trading Down 1.2%

Shares of NASDAQ PCTY opened at $107.68 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $5.80 billion, a PE ratio of 25.34, a PEG ratio of 3.15 and a beta of 0.49. Paylocity has a twelve month low of $92.99 and a twelve month high of $201.97. The stock has a fifty day simple moving average of $106.94 and a 200-day simple moving average of $129.46.

Paylocity (NASDAQ:PCTY – Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The software maker reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.28. The company had revenue of $416.13 million for the quarter, compared to analyst estimates of $408.37 million. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.52 earnings per share. On average, equities analysts forecast that Paylocity will post 5.31 earnings per share for the current year.

Paylocity Company Profile

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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.

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