Paylocity (NASDAQ:PCTY) Price Target Raised to $174.00 at Barclays

Paylocity (NASDAQ:PCTY) had its target price upped by Barclays from $156.00 to $174.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the software maker’s stock. Barclays‘s price target would indicate a potential upside of 5.48% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. TD Cowen lowered their price objective on Paylocity from $180.00 to $153.00 and set a “buy” rating for the company in a research report on Thursday, June 20th. JMP Securities reissued a “market outperform” rating and issued a $250.00 target price on shares of Paylocity in a research report on Monday, August 5th. Citigroup lowered their target price on shares of Paylocity from $178.00 to $155.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 price target on shares of Paylocity in a research note on Thursday, September 5th. Finally, BTIG Research lowered their price objective on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.07.

Paylocity Trading Up 1.4 %

Shares of NASDAQ:PCTY traded up $2.22 on Friday, hitting $164.96. The company had a trading volume of 58,906 shares, compared to its average volume of 508,142. The company has a market cap of $9.17 billion, a PE ratio of 45.32, a PEG ratio of 3.96 and a beta of 0.95. The business has a 50 day moving average of $159.06 and a 200 day moving average of $154.50. Paylocity has a 52-week low of $129.94 and a 52-week high of $205.66.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, August 1st. The software maker reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.19. The company had revenue of $357.30 million for the quarter, compared to analysts’ expectations of $350.29 million. Paylocity had a net margin of 14.74% and a return on equity of 22.17%. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period last year, the company earned $0.76 EPS. As a group, equities analysts predict that Paylocity will post 4.51 EPS for the current year.

Insider Activity at Paylocity

In other Paylocity news, CFO Ryan Glenn sold 1,400 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $140.06, for a total value of $196,084.00. Following the completion of the transaction, the chief financial officer now owns 31,074 shares in the company, valued at $4,352,224.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Steven R. Beauchamp sold 49,442 shares of Paylocity stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the sale, the chief executive officer now directly owns 1,745,022 shares of the company’s stock, valued at approximately $248,979,738.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ryan Glenn sold 1,400 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $140.06, for a total value of $196,084.00. Following the completion of the transaction, the chief financial officer now owns 31,074 shares in the company, valued at approximately $4,352,224.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,632 shares of company stock worth $7,379,399. 22.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Paylocity

Several hedge funds and other institutional investors have recently bought and sold shares of the business. FORA Capital LLC acquired a new stake in shares of Paylocity during the first quarter worth approximately $1,540,000. Royal London Asset Management Ltd. acquired a new position in Paylocity during the 4th quarter worth $1,938,000. BNP Paribas Financial Markets grew its holdings in Paylocity by 55.2% during the 1st quarter. BNP Paribas Financial Markets now owns 36,818 shares of the software maker’s stock worth $6,328,000 after acquiring an additional 13,093 shares in the last quarter. Cetera Advisors LLC bought a new stake in shares of Paylocity in the 1st quarter worth about $729,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Paylocity by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock valued at $1,518,176,000 after purchasing an additional 278,607 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Paylocity Company Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.