Several other equities analysts have also issued reports on the stock. KeyCorp boosted their target price on shares of Paylocity from $220.00 to $250.00 and gave the company an "overweight" rating in a report on Friday. Truist Financial upped their target price on Paylocity from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Raymond James reaffirmed an "outperform" rating and set a $265.00 target price (up previously from $215.00) on shares of Paylocity in a research note on Friday. Piper Sandler reissued an "overweight" rating and issued a $254.00 price target (up from $212.00) on shares of Paylocity in a research note on Thursday. Finally, Jefferies Financial Group raised their price objective on shares of Paylocity from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Friday. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $233.25.
View Our Latest Research Report on PCTY
Shares of PCTY stock traded up $5.77 on Monday, hitting $211.61. The company had a trading volume of 593,345 shares, compared to its average volume of 539,682. Paylocity has a twelve month low of $129.94 and a twelve month high of $223.80. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market cap of $11.80 billion, a P/E ratio of 54.26, a P/E/G ratio of 5.19 and a beta of 0.95. The stock's 50-day moving average is $201.28 and its two-hundred day moving average is $181.70.
Paylocity (NASDAQ:PCTY - Get Free Report) last released its earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing analysts' consensus estimates of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.93%. On average, equities research analysts anticipate that Paylocity will post 4.46 earnings per share for the current fiscal year.
In related news, Director Steven I. Sarowitz sold 2,600 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $200.14, for a total value of $520,364.00. Following the completion of the sale, the director now directly owns 8,332,347 shares of the company's stock, valued at approximately $1,667,635,928.58. This represents a 0.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey T. Diehl sold 4,513 shares of Paylocity stock in a transaction on Monday, November 25th. The stock was sold at an average price of $209.91, for a total transaction of $947,323.83. Following the transaction, the director now directly owns 1,003 shares in the company, valued at $210,539.73. This represents a 81.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,380 shares of company stock worth $25,830,669 in the last quarter. Insiders own 21.91% of the company's stock.
Several hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in Paylocity by 16,397.9% during the third 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. increased its position in shares of Paylocity by 222.3% during the 3rd quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker's stock valued at $1,788,000 after purchasing an additional 7,475 shares during the last quarter. Barclays PLC raised its stake in shares of 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 purchasing an additional 5,609 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Paylocity by 5,742.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker's stock worth $1,165,000 after buying an additional 5,742 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Paylocity by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker's stock valued at $46,592,000 after buying an additional 4,697 shares during the period. Institutional investors own 94.76% of the company's stock.
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.
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