Paylocity (NASDAQ:PCTY) Receives “Outperform” Rating from Raymond James

Paylocity (NASDAQ:PCTY)‘s stock had its “outperform” rating reaffirmed by Raymond James in a research note issued to investors on Friday,Benzinga reports. They currently have a $265.00 target price on the software maker’s stock, up from their prior target price of $215.00. Raymond James’ price objective indicates a potential upside of 28.73% from the company’s previous close.

PCTY has been the subject of several other reports. Stifel Nicolaus upped their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Friday. BMO Capital Markets upped their price objective on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. JMP Securities upped their price objective on shares of Paylocity from $250.00 to $270.00 and gave the stock a “market outperform” rating in a report on Friday. Barclays upped their price objective 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. Finally, TD Cowen decreased their price objective on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $229.13.

Paylocity Trading Down 2.9 %

Shares of Paylocity stock traded down $6.16 during trading on Friday, reaching $205.86. The company’s stock had a trading volume of 593,348 shares, compared to its average volume of 512,868. Paylocity has a 52-week low of $129.94 and a 52-week high of $223.80. The company has a market cap of $11.48 billion, a price-to-earnings ratio of 52.73, a PEG ratio of 5.03 and a beta of 0.95. The firm’s 50-day moving average is $201.32 and its two-hundred day moving average is $180.76. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results 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 15.32% and a return on equity of 22.92%. On average, sell-side analysts anticipate that Paylocity will post 4.46 earnings per share for the current year.

Insider Activity

In other news, SVP Andrew Cappotelli sold 247 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total transaction of $47,742.63. Following the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Steven I. Sarowitz sold 12,226 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $196.29, for a total transaction of $2,399,841.54. Following the sale, the director now directly owns 9,300,847 shares in the company, valued at approximately $1,825,663,257.63. The trade was a 0.13 % decrease in their position. 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 in the last 90 days. 21.91% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Paylocity

Several institutional investors have recently made changes to their positions in PCTY. International Assets Investment Management LLC raised its stake in Paylocity by 16,397.9% during the 3rd quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock worth $1,279,000 after acquiring an additional 7,707 shares during the period. Edgestream Partners L.P. raised its stake in Paylocity by 222.3% during the 3rd quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock worth $1,788,000 after acquiring an additional 7,475 shares during the period. Barclays PLC raised its stake in Paylocity by 14.3% during the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock worth $7,407,000 after acquiring an additional 5,609 shares during the period. Nisa Investment Advisors LLC raised its stake in Paylocity by 5,742.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker’s stock worth $1,165,000 after acquiring an additional 5,742 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Paylocity by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker’s stock worth $46,592,000 after acquiring an additional 4,697 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.