Paylocity Holding Corporation (NASDAQ:PCTY – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued 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 $156.6111.
Several research firms recently weighed in on PCTY. Weiss Ratings restated a “sell (d+)” rating on shares of Paylocity in a report on Friday, April 24th. Stephens dropped their target price on shares of Paylocity from $160.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. Robert W. Baird set a $193.00 price target on Paylocity in a research report on Friday, May 8th. Jefferies Financial Group set a $135.00 price target on Paylocity in a report on Saturday, May 9th. Finally, BMO Capital Markets boosted their price objective on Paylocity from $135.00 to $143.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th.
Read Our Latest Stock Analysis on Paylocity
Paylocity Price Performance
Insider Activity
In related news, SVP Andrew Cappotelli sold 899 shares of Paylocity stock in a transaction that occurred on 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 owned 17,679 shares of the company’s stock, valued at approximately $2,033,968.95. The trade was a 4.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 insiders.
Institutional Investors Weigh In On Paylocity
Several large investors have recently added to or reduced their stakes in PCTY. Alyeska Investment Group L.P. purchased a new position in Paylocity in the 3rd quarter valued at approximately $104,657,000. Norges Bank bought a new stake in Paylocity during the 4th quarter valued at $88,428,000. Morgan Stanley lifted its position in shares of Paylocity by 117.9% during the fourth quarter. Morgan Stanley now owns 817,209 shares of the software maker’s stock worth $124,625,000 after acquiring an additional 442,218 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Paylocity by 75.1% during the fourth quarter. AQR Capital Management LLC now owns 943,591 shares of the software maker’s stock worth $143,747,000 after acquiring an additional 404,605 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Paylocity by 261.2% in the fourth quarter. BNP Paribas Financial Markets now owns 534,487 shares of the software maker’s stock worth $81,509,000 after acquiring an additional 386,494 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.
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.
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