Paylocity (NASDAQ:PCTY) Price Target Raised to $177.00

Paylocity (NASDAQ:PCTY) had its price objective increased by TD Cowen from $168.00 to $177.00 in a research report sent to investors on Thursday,Benzinga reports. TD Cowen currently has a buy rating on the software maker’s stock.

A number of other equities research analysts have also recently weighed in on PCTY. Barclays increased their price target on Paylocity from $128.00 to $154.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 5th. Citigroup reaffirmed a “buy” rating on shares of Paylocity in a research report on Thursday, August 6th. Cantor Fitzgerald upped their price objective on shares of Paylocity from $140.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Zacks Research lowered shares of Paylocity from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Weiss Ratings upgraded shares of Paylocity from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Paylocity presently has a consensus rating of “Moderate Buy” and an average target price of $160.53.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $153.34 on Thursday. The business’s 50 day moving average price is $126.14 and its two-hundred day moving average price is $115.25. The company has a market cap of $8.14 billion, a PE ratio of 30.98 and a beta of 0.48. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07. Paylocity has a twelve month low of $92.99 and a twelve month high of $182.83.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.22. Paylocity had a return on equity of 27.02% and a net margin of 15.23%.The firm had revenue of $444.73 million for the quarter, compared to analyst estimates of $431.46 million. During the same quarter in the prior year, the company earned $1.56 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, analysts predict that Paylocity will post 6.86 EPS for the current year.

Insider Buying and Selling at Paylocity

In other news, Director Steven I. Sarowitz sold 11,136 shares of Paylocity stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $150.81, for a total value of $1,679,420.16. Following the completion of the sale, the director directly owned 4,535,052 shares in the company, valued at approximately $683,931,192.12. The trade was a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ryan Glenn sold 3,345 shares of Paylocity stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $149.75, for a total transaction of $500,913.75. Following the completion of the sale, the chief financial officer owned 122,563 shares of the company’s stock, valued at approximately $18,353,809.25. The trade was a 2.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 30,300 shares of company stock worth $4,553,607. 19.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Paylocity

A number of hedge funds have recently added to or reduced their stakes in PCTY. AlphaGrep UK Ltd acquired a new position in Paylocity in the 2nd quarter valued at $230,000. Syon Capital LLC grew its holdings in shares of Paylocity by 101.7% during the 2nd quarter. Syon Capital LLC now owns 8,419 shares of the software maker’s stock worth $880,000 after purchasing an additional 4,246 shares in the last quarter. AXQ Capital LP acquired a new stake in shares of Paylocity during the 2nd quarter worth $1,399,000. Nykredit A S bought a new position in shares of Paylocity in the second quarter worth $256,000. Finally, Keeler Thomas Management LLC increased its position in shares of Paylocity by 8.4% in the second quarter. Keeler Thomas Management LLC now owns 7,967 shares of the software maker’s stock worth $833,000 after purchasing an additional 615 shares during the period. Institutional investors own 94.76% of the company’s stock.

Paylocity News Roundup

Here are the key news stories impacting Paylocity this week:

• Positive Sentiment: TD Cowen raised its price target for Paylocity from $168 to $177 and maintained a “buy” rating, indicating potential upside from the referenced share price. The move signals continued confidence in Paylocity’s growth outlook. Benzinga analyst price-target report
• Positive Sentiment: Paylocity’s 50-day moving average recently moved above its 200-day average, forming a bullish “golden cross.” This technical signal could attract momentum-focused investors and reinforce the stock’s ongoing uptrend. Zacks golden cross analysis
• Positive Sentiment: Recent coverage highlighted the extension of Paylocity’s uptrend after a strong quarterly report. The company reported adjusted earnings of $1.84 per share versus the $1.62 consensus estimate and revenue of $444.7 million versus expectations of $431.5 million, with revenue up 11% year over year. Kalkine Media Paylocity uptrend report
• Neutral Sentiment: CFO Ryan Glenn, SVPs Andrew Cappotelli and Joshua Scutt, and Director Steven I. Sarowitz sold a combined 19,164 shares worth approximately $2.87 million. Because the transactions were executed under pre-arranged Rule 10b5-1 plans, they are a limited signal of near-term pessimism. Sarowitz still owns more than 4.48 million shares, and the other executives retain substantial positions. SEC insider transaction filing

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.