Paylocity (NASDAQ:PCTY) Now Covered by BTIG Research

BTIG Research assumed coverage on shares of Paylocity (NASDAQ:PCTY) in a report published on Tuesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $180.00 price target on the software maker’s stock.

Other analysts have also recently issued research reports about the stock. Guggenheim raised shares of Paylocity from a “neutral” rating to a “buy” rating and set a $180.00 target price on the stock in a research note on Monday, November 10th. UBS Group reduced their price target on Paylocity from $195.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, September 17th. BMO Capital Markets dropped their price objective on shares of Paylocity from $200.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Stephens reduced their target price on shares of Paylocity from $200.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Finally, Barclays dropped their price target on shares of Paylocity from $195.00 to $175.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $206.37.

Paylocity Stock Performance

Paylocity stock opened at $150.86 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.07. The stock has a market cap of $8.20 billion, a PE ratio of 37.81, a P/E/G ratio of 4.44 and a beta of 0.57. Paylocity has a 12-month low of $135.46 and a 12-month high of $223.80. The business’s 50-day moving average price is $147.32 and its two-hundred day moving average price is $166.66.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Tuesday, November 4th. The software maker reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.23. The company had revenue of $408.17 million for the quarter, compared to the consensus estimate of $399.53 million. Paylocity had a net margin of 13.75% and a return on equity of 22.07%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the company posted $1.66 EPS. As a group, analysts expect that Paylocity will post 4.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Paylocity

In other news, CFO Ryan Glenn sold 1,737 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $143.65, for a total transaction of $249,520.05. Following the completion of the sale, the chief financial officer owned 77,229 shares in the company, valued at $11,093,945.85. This trade represents a 2.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 19.40% of the stock is owned by corporate insiders.

Institutional Trading of Paylocity

Large investors have recently bought and sold shares of the company. Advisory Services Network LLC purchased a new position in shares of Paylocity during the 3rd quarter valued at $38,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Paylocity in the 3rd quarter worth about $41,000. Allworth Financial LP raised its stake in Paylocity by 88.0% in the 3rd quarter. Allworth Financial LP now owns 282 shares of the software maker’s stock valued at $45,000 after acquiring an additional 132 shares during the period. SBI Securities Co. Ltd. lifted its holdings in Paylocity by 47.4% during the second quarter. SBI Securities Co. Ltd. now owns 252 shares of the software maker’s stock valued at $46,000 after purchasing an additional 81 shares during the last quarter. Finally, True Wealth Design LLC boosted its position in Paylocity by 155.4% during the third quarter. True Wealth Design LLC now owns 286 shares of the software maker’s stock worth $46,000 after purchasing an additional 174 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

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.