Shares of Paylocity Holding Co. (NASDAQ:PCTY) have received an average rating of “Buy” from the twenty analysts that are currently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $191.88.
Several research analysts recently commented on PCTY shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price objective on shares of Paylocity from $209.00 to $210.00 in a research note on Tuesday, December 22nd. Zacks Investment Research lowered shares of Paylocity from a “buy” rating to a “hold” rating and set a $224.00 price objective for the company. in a research note on Wednesday, February 10th. Raymond James boosted their price objective on shares of Paylocity from $210.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, February 5th. Mizuho upped their price target on shares of Paylocity from $160.00 to $175.00 and gave the company a “neutral” rating in a research note on Wednesday, December 16th. Finally, JMP Securities upped their price target on shares of Paylocity from $195.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, January 26th.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Paylocity by 2.9% in the 4th quarter. BlackRock Inc. now owns 3,565,639 shares of the software maker’s stock valued at $734,201,000 after acquiring an additional 99,655 shares during the last quarter. Riverbridge Partners LLC boosted its holdings in Paylocity by 9.8% during the fourth quarter. Riverbridge Partners LLC now owns 587,026 shares of the software maker’s stock worth $120,874,000 after buying an additional 52,166 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Paylocity by 5.9% during the fourth quarter. Bank of New York Mellon Corp now owns 501,232 shares of the software maker’s stock worth $103,208,000 after buying an additional 28,074 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Paylocity by 15.6% during the fourth quarter. Nuveen Asset Management LLC now owns 387,202 shares of the software maker’s stock worth $79,728,000 after buying an additional 52,231 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in Paylocity by 23.4% during the fourth quarter. Lord Abbett & CO. LLC now owns 368,051 shares of the software maker’s stock worth $75,785,000 after buying an additional 69,850 shares in the last quarter. 68.69% of the stock is currently owned by institutional investors and hedge funds.
Paylocity (NASDAQ:PCTY) last announced its quarterly earnings results on Wednesday, February 3rd. The software maker reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.14. The firm had revenue of $146.33 million during the quarter, compared to analysts’ expectations of $143.47 million. Paylocity had a net margin of 11.05% and a return on equity of 16.89%. As a group, sell-side analysts predict that Paylocity will post 0.76 earnings per share for the current fiscal year.
Paylocity Company Profile
Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Payroll module that enables clients to automate key payroll processes and manage compliance; Core HR module, which provides a set of HR capabilities enabling clients to manage HR data; and Talent module that enable clients to manage their talent throughout employees' tenures, starting at recruiting and carrying through onboarding, learning, and performance management.
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