Paylocity Holding Co. (NASDAQ:PCTY) shares rose 4.4% on Thursday . The stock traded as high as $193.87 and last traded at $192.87. Approximately 764 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 275,582 shares. The stock had previously closed at $184.67.
PCTY has been the subject of several research reports. Mizuho raised their price objective on shares of Paylocity from $160.00 to $175.00 and gave the company a “neutral” rating in a research report on Wednesday, December 16th. Smith Barney Citigroup raised their price objective on shares of Paylocity from $209.00 to $210.00 in a research report on Tuesday, December 22nd. Zacks Investment Research cut shares of Paylocity from a “buy” rating to a “hold” rating and set a $224.00 price objective for the company. in a research report on Wednesday, February 10th. Citigroup raised their price objective on shares of Paylocity from $210.00 to $217.00 and gave the company a “neutral” rating in a research report on Friday, February 5th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price objective on shares of Paylocity from $209.00 to $210.00 in a research report on Tuesday, December 22nd. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $191.88.
The firm’s 50 day moving average is $184.00 and its two-hundred day moving average is $189.37. The firm has a market cap of $10.32 billion, a P/E ratio of 163.43, a price-to-earnings-growth ratio of 12.76 and a beta of 1.36. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.26.
Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Wednesday, February 3rd. The software maker reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.14. Paylocity had a net margin of 11.05% and a return on equity of 16.89%. The business had revenue of $146.33 million for the quarter, compared to analyst estimates of $143.47 million. Analysts predict that Paylocity Holding Co. will post 0.76 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in PCTY. Norges Bank bought a new position in Paylocity during the 4th quarter worth approximately $65,724,000. Federated Hermes Inc. lifted its stake in Paylocity by 1,002.3% in the fourth quarter. Federated Hermes Inc. now owns 134,160 shares of the software maker’s stock valued at $27,625,000 after buying an additional 121,989 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in Paylocity by 340.2% in the third quarter. Great West Life Assurance Co. Can now owns 143,629 shares of the software maker’s stock valued at $242,000 after buying an additional 111,004 shares in the last quarter. BlackRock Inc. lifted its stake in Paylocity by 2.9% in the fourth quarter. BlackRock Inc. now owns 3,565,639 shares of the software maker’s stock valued at $734,201,000 after buying an additional 99,655 shares in the last quarter. Finally, Berkshire Capital Holdings Inc. lifted its stake in Paylocity by 729,500.0% in the fourth quarter. Berkshire Capital Holdings Inc. now owns 72,960 shares of the software maker’s stock valued at $15,023,000 after buying an additional 72,950 shares in the last quarter. 68.69% of the stock is currently owned by institutional investors and hedge funds.
Paylocity Company Profile (NASDAQ:PCTY)
Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Payroll module that enables clients to automate key payroll processes and manage compliance; Core HR module, which provides a set of HR capabilities enabling clients to manage HR data; and Talent module that enable clients to manage their talent throughout employees' tenures, starting at recruiting and carrying through onboarding, learning, and performance management.
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