Analysts Set Paylocity Holding Co. (NASDAQ:PCTY) Price Target at $233.25

Shares of Paylocity Holding Co. (NASDAQ:PCTY) have been assigned an average recommendation of “Moderate Buy” from the sixteen analysts that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $233.25.

Several research firms have recently weighed in on PCTY. UBS Group boosted their target price on Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Barclays increased their price target on shares of Paylocity from $214.00 to $231.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Citigroup raised shares of Paylocity from a “neutral” rating to a “buy” rating and upped their target price for the company from $214.00 to $231.00 in a report on Thursday, January 16th. Raymond James reiterated an “outperform” rating and issued a $265.00 target price (up from $215.00) on shares of Paylocity in a research note on Friday, February 7th. Finally, Stifel Nicolaus upped their price target on Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, February 7th.

Insiders Place Their Bets

In other news, Director Steven I. Sarowitz sold 23,243 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $191.00, for a total transaction of $4,439,413.00. Following the sale, the director now owns 470,452 shares of the company’s stock, valued at $89,856,332. The trade was a 4.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 21.91% of the stock is currently owned by company insiders.

Institutional Trading of Paylocity

Institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in shares of Paylocity during the 4th quarter worth $29,000. UMB Bank n.a. increased its holdings in Paylocity by 41.1% during the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after acquiring an additional 72 shares in the last quarter. Quarry LP raised its position in Paylocity by 149.2% during the third quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after acquiring an additional 185 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Paylocity by 489.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $54,000 after purchasing an additional 225 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock valued at $55,000 after purchasing an additional 63 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Paylocity Trading Up 0.5 %

NASDAQ:PCTY opened at $187.34 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. The firm has a market cap of $10.47 billion, a PE ratio of 48.04, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94. The stock has a fifty day moving average price of $201.00 and a 200 day moving average price of $192.96. Paylocity has a 12-month low of $129.94 and a 12-month high of $223.80.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. Sell-side analysts anticipate that Paylocity will post 4.36 earnings per share for the current fiscal year.

About Paylocity

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.