Paylocity (NASDAQ:PCTY) Price Target Raised to $180.00

Paylocity (NASDAQ:PCTY) had its price objective raised by Citizens Jmp from $150.00 to $180.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a market outperform rating on the software maker’s stock.

PCTY has been the topic of several other reports. Barclays lifted their price target on shares of Paylocity from $154.00 to $162.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 13th. Robert W. Baird set a $201.00 price target on Paylocity in a research report on Wednesday, August 5th. BTIG Research increased their price objective on Paylocity from $150.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. TD Cowen raised their price objective on Paylocity from $168.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $165.00 price objective on shares of Paylocity in a research report on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Paylocity currently has an average rating of “Moderate Buy” and an average price target of $165.53.

Paylocity Stock Performance

PCTY stock opened at $177.67 on Tuesday. Paylocity has a one year low of $92.99 and a one year high of $178.13. The firm has a market cap of $9.43 billion, a price-to-earnings ratio of 29.66, a PEG ratio of 2.01 and a beta of 0.50. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a 50-day simple moving average of $151.56 and a two-hundred day simple moving average of $127.76.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.22. The firm had revenue of $444.73 million for the quarter, compared to the consensus estimate of $431.46 million. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.56 EPS. On average, equities analysts forecast that Paylocity will post 6.92 EPS for the current fiscal year.

Insider Activity at Paylocity

In related news, Chairman Steven R. Beauchamp sold 15,000 shares of the stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $165.22, for a total value of $2,478,300.00. Following the completion of the transaction, the chairman directly owned 1,243,389 shares of the company’s stock, valued at $205,432,730.58. This trade represents a 1.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 stock was 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 $18,353,809.25. This trade represents a 2.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 113,470 shares of company stock valued at $18,186,748. Company insiders own 19.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PCTY. Optiver Holding B.V. grew its holdings in shares of Paylocity by 5,925.0% during the first quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock valued at $26,000 after buying an additional 237 shares during the last quarter. Global Retirement Partners LLC acquired a new position in shares of Paylocity in the 2nd quarter valued at $27,000. Basecamp Wealth Advisors LLC raised its stake in Paylocity by 4,250.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock worth $28,000 after acquiring an additional 255 shares during the last quarter. Elevation Wealth Partners LLC raised its stake in Paylocity by 500.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker’s stock worth $36,000 after acquiring an additional 285 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in Paylocity by 58.8% during the 1st quarter. Parallel Advisors LLC now owns 451 shares of the software maker’s stock worth $49,000 after acquiring an additional 167 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Key Headlines Impacting Paylocity

Here are the key news stories impacting Paylocity this week:

• Positive Sentiment: Paylocity launched its AI-powered Recruiting Optimizer, part of its Ignite AI platform. The tool is designed to improve recruiter productivity by 35%, accelerate hiring by 25% and reduce candidate drop-off by 15%, supporting the company’s effort to differentiate its cloud-based human capital management software. Paylocity launches AI-powered Recruiting Optimizer
• Positive Sentiment: Citizens JMP raised its price target for PCTY from $150 to $180 while maintaining a “market outperform” rating, signaling confidence in additional upside. Citizens JMP raises Paylocity price target
• Positive Sentiment: Paylocity’s latest quarterly results exceeded expectations, with earnings of $1.84 per share versus the $1.62 consensus estimate and revenue of $444.73 million versus $431.46 million expected. Revenue grew 11% year over year, reinforcing the company’s growth and profitability profile.
• Neutral Sentiment: Director Steven Sarowitz sold 10,617 shares for approximately $1.80 million on October 20, following a sale of 10,445 shares worth about $1.74 million on October 19. Both trades were executed under a Rule 10b5-1 plan; Sarowitz still owns more than 4.4 million shares, so the sales reduced his position only modestly. Paylocity director stock sale filing

About Paylocity

Paylocity Holding Corporation (NASDAQ:PCTY) provides cloud-based human capital management (HCM) and payroll software for organizations. Its platform is designed to help employers manage payroll, human resources, employee benefits, talent acquisition, onboarding, performance, learning, and workforce administration through an integrated system.

The company also offers tools for time and labor management, scheduling, employee communications, engagement, surveys, expense management, and other workplace activities.