UBS Group Issues Positive Forecast for Paylocity (NASDAQ:PCTY) Stock Price

Paylocity (NASDAQ:PCTY) had its price target lifted by UBS Group from $211.00 to $220.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the software maker’s stock.

Other analysts also recently issued research reports about the stock. Barclays upped their price target on shares of Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. KeyCorp raised their target price on Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a report on Friday. BMO Capital Markets boosted their price target on Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Jefferies Financial Group raised their price objective on Paylocity from $215.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, StockNews.com raised Paylocity from a “hold” rating to a “buy” rating in a research note on Saturday, December 7th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $233.25.

Paylocity Price Performance

NASDAQ:PCTY opened at $205.84 on Friday. Paylocity has a 52 week low of $129.94 and a 52 week high of $223.80. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The firm’s 50-day simple moving average is $201.32 and its 200 day simple moving average is $180.76. The firm has a market cap of $11.48 billion, a price-to-earnings ratio of 52.78, a P/E/G ratio of 5.19 and a beta of 0.95.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a return on equity of 22.93% and a net margin of 14.76%. As a group, sell-side analysts predict that Paylocity will post 4.46 earnings per share for the current year.

Insider Buying and Selling

In other Paylocity news, CAO Nicholas Rost sold 212 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total value of $40,977.48. Following the sale, the chief accounting officer now owns 7,364 shares in the company, valued at approximately $1,423,387.56. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Andrew Cappotelli sold 247 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total value of $47,742.63. Following the transaction, the senior vice president now owns 14,634 shares of the company’s stock, valued at $2,828,605.86. This trade represents a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,380 shares of company stock valued at $25,830,669 over the last 90 days. 21.91% of the stock is owned by insiders.

Institutional Investors Weigh In On Paylocity

A number of institutional investors have recently modified their holdings of PCTY. CIBC Asset Management Inc lifted its holdings in Paylocity by 3.6% in the third quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker’s stock valued at $273,000 after buying an additional 58 shares during the period. Steward Partners Investment Advisory LLC grew its stake in Paylocity by 29.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock worth $55,000 after purchasing an additional 63 shares during the period. UMB Bank n.a. increased its holdings in Paylocity by 41.1% in the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock worth $49,000 after purchasing an additional 72 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Paylocity by 2.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,156 shares of the software maker’s stock worth $630,000 after buying an additional 77 shares during the period. Finally, Chicago Partners Investment Group LLC increased its stake in shares of Paylocity by 3.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker’s stock valued at $395,000 after acquiring an additional 82 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Paylocity Company Profile

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.