Paylocity (NASDAQ:PCTY) Hits New 12-Month Low – Should You Sell?

Paylocity Holding Corporation (NASDAQ:PCTY) reached a new 52-week low during trading on Tuesday . The company traded as low as $137.57 and last traded at $140.81, with a volume of 865938 shares traded. The stock had previously closed at $141.27.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PCTY. Barclays cut their price target on shares of Paylocity from $195.00 to $175.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. Citigroup cut their price target on shares of Paylocity from $225.00 to $218.00 and set a “buy” rating on the stock in a report on Monday, July 21st. Raymond James Financial set a $220.00 price target on shares of Paylocity and gave the company an “outperform” rating in a report on Wednesday, July 30th. Guggenheim began coverage on shares of Paylocity in a report on Thursday, September 25th. They issued a “neutral” rating on the stock. Finally, Jefferies Financial Group cut their price target on shares of Paylocity from $235.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Paylocity has an average rating of “Moderate Buy” and an average target price of $221.38.

Paylocity Stock Down 0.3%

The firm’s 50-day moving average price is $160.75 and its 200 day moving average price is $176.86. The firm has a market cap of $7.66 billion, a P/E ratio of 35.11, a price-to-earnings-growth ratio of 2.72 and a beta of 0.58. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.13.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Tuesday, August 5th. The software maker reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.18. The firm had revenue of $400.74 million during the quarter, compared to analyst estimates of $388.25 million. Paylocity had a net margin of 14.24% and a return on equity of 22.08%. Paylocity’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.48 EPS. As a group, research analysts expect that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

Hedge Funds Weigh In On Paylocity

A number of institutional investors and hedge funds have recently bought and sold shares of PCTY. AQR Capital Management LLC grew its position in Paylocity by 500.6% in the 2nd quarter. AQR Capital Management LLC now owns 449,935 shares of the software maker’s stock valued at $81,438,000 after buying an additional 375,023 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Paylocity by 7.0% in the 1st quarter. Vanguard Group Inc. now owns 4,312,832 shares of the software maker’s stock valued at $807,966,000 after acquiring an additional 283,430 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in Paylocity in the 1st quarter valued at about $47,998,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Paylocity by 1,995.2% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 259,800 shares of the software maker’s stock valued at $47,073,000 after acquiring an additional 247,400 shares during the last quarter. Finally, TimesSquare Capital Management LLC acquired a new stake in Paylocity in the 1st quarter valued at about $37,085,000. 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.