Paylocity (NASDAQ:PCTY) Price Target Raised to $220.00 at UBS Group

Paylocity (NASDAQ:PCTY) had its price target increased by investment analysts at UBS Group from $211.00 to $220.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the software maker’s stock. UBS Group’s price target would suggest a potential upside of 5.24% from the stock’s current price.

A number of other brokerages have also recently issued reports on PCTY. BMO Capital Markets upped their price objective on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. StockNews.com upgraded Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday, December 7th. Truist Financial lifted their price objective on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus increased their price objective on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Friday. Finally, Barclays upped their target price on shares of Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $225.40.

Paylocity Price Performance

NASDAQ:PCTY traded down $2.96 during trading hours on Friday, hitting $209.06. 380,246 shares of the company’s stock traded hands, compared to its average volume of 503,838. The firm has a market cap of $11.65 billion, a P/E ratio of 53.78, a P/E/G ratio of 5.03 and a beta of 0.95. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. The business’s fifty day simple moving average is $201.32 and its two-hundred day simple moving average is $180.76. Paylocity has a 52 week low of $129.94 and a 52 week high of $223.80.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a return on equity of 22.92% and a net margin of 15.32%. On average, research analysts anticipate that Paylocity will post 4.46 earnings per share for the current fiscal year.

Insider Transactions at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 15,444 shares of Paylocity stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $195.43, for a total value of $3,018,220.92. Following the sale, the director now owns 9,272,906 shares of the company’s stock, valued at $1,812,204,019.58. The trade was a 0.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Andrew Cappotelli sold 247 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total transaction of $47,742.63. Following the completion of the transaction, the senior vice president now directly owns 14,634 shares of the company’s stock, valued at approximately $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 sold a total of 127,380 shares of company stock valued at $25,830,669 over the last 90 days. Company insiders own 21.91% of the company’s stock.

Institutional Investors Weigh In On Paylocity

Several institutional investors have recently made changes to their positions in PCTY. JPMorgan Chase & Co. raised its holdings in shares of Paylocity by 81.9% in the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock worth $141,303,000 after buying an additional 385,625 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in Paylocity by 283.8% during the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock worth $51,101,000 after acquiring an additional 229,057 shares during the period. Victory Capital Management Inc. raised its position in Paylocity by 297.6% during the third quarter. Victory Capital Management Inc. now owns 119,560 shares of the software maker’s stock valued at $19,724,000 after acquiring an additional 89,487 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Paylocity by 113.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 96,406 shares of the software maker’s stock valued at $15,904,000 after acquiring an additional 51,276 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Paylocity by 1,896.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 47,966 shares of the software maker’s stock worth $7,913,000 after purchasing an additional 45,564 shares during the period. Institutional investors own 94.76% of the company’s stock.

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.