Paylocity Holding Corporation (NASDAQ:PCTY) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Paylocity Holding Corporation (NASDAQ:PCTY) have received a consensus rating of “Moderate Buy” from the nineteen analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $160.2778.

Several equities analysts have weighed in on the company. KeyCorp dropped their price target on Paylocity from $190.00 to $172.00 and set an “overweight” rating for the company in a research report on Tuesday, April 28th. Robert W. Baird set a $193.00 price target on Paylocity in a research report on Friday, May 8th. Citizens Jmp dropped their price target on Paylocity from $170.00 to $150.00 and set a “market outperform” rating for the company in a research report on Friday, May 8th. BMO Capital Markets raised their price target on Paylocity from $135.00 to $143.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, Raymond James Financial set a $140.00 price target on Paylocity in a research report on Friday, May 8th.

Insiders Place Their Bets

In other Paylocity news, SVP Andrew Cappotelli sold 899 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $115.05, for a total transaction of $103,429.95. Following the completion of the transaction, the senior vice president owned 17,679 shares of the company’s stock, valued at approximately $2,033,968.95. This trade represents a 4.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 19.40% of the company’s stock.

Hedge Funds Weigh In On Paylocity

Several hedge funds have recently bought and sold shares of PCTY. Flagship Harbor Advisors LLC purchased a new position in Paylocity during the fourth quarter worth $27,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Paylocity by 363.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker’s stock worth $29,000 after purchasing an additional 149 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Paylocity during the fourth quarter worth $30,000. Advisory Services Network LLC acquired a new stake in shares of Paylocity during the third quarter worth $38,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Paylocity during the third quarter worth $41,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Stock Performance

NASDAQ PCTY opened at $110.88 on Friday. Paylocity has a 1-year low of $92.99 and a 1-year high of $197.78. The company has a market capitalization of $5.94 billion, a P/E ratio of 23.64 and a beta of 0.49. The business has a 50 day moving average price of $106.42 and a 200 day moving average price of $125.02. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.08 and a quick ratio of 1.08.

About Paylocity

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.