Shares of Paylocity Holding Corp (NASDAQ:PCTY) have been given a consensus recommendation of “Buy” by the nineteen analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $69.54.
Several research firms have recently commented on PCTY. BidaskClub lowered shares of Paylocity from a “hold” rating to a “sell” rating in a report on Monday. Zacks Investment Research lowered shares of Paylocity from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 10th. Jefferies Financial Group began coverage on shares of Paylocity in a report on Monday, October 1st. They issued a “hold” rating and a $88.00 price target for the company. Bank of America boosted their price target on shares of Paylocity from $73.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, September 26th. Finally, Guggenheim began coverage on shares of Paylocity in a report on Monday, August 20th. They issued a “buy” rating and a $80.00 price target for the company.
PCTY traded down $1.77 on Wednesday, reaching $67.98. 290,600 shares of the company traded hands, compared to its average volume of 278,989. Paylocity has a one year low of $41.15 and a one year high of $88.47. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of 219.29, a PEG ratio of 4.27 and a beta of 2.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.08 and a quick ratio of 1.08.
In other news, Director Steven I. Sarowitz sold 144,124 shares of Paylocity stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $64.75, for a total value of $9,332,029.00. Following the transaction, the director now owns 14,820,606 shares of the company’s stock, valued at approximately $959,634,238.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael R. Haske sold 42,500 shares of Paylocity stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $65.91, for a total transaction of $2,801,175.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,002,124 shares of company stock worth $65,904,551. Insiders own 48.80% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in PCTY. Voya Investment Management LLC grew its position in Paylocity by 3,670.3% during the 2nd quarter. Voya Investment Management LLC now owns 446,288 shares of the software maker’s stock worth $26,269,000 after purchasing an additional 434,451 shares during the last quarter. Standard Life Aberdeen plc boosted its holdings in shares of Paylocity by 31.4% in the 2nd quarter. Standard Life Aberdeen plc now owns 1,469,941 shares of the software maker’s stock valued at $86,521,000 after acquiring an additional 350,996 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Paylocity by 46.2% in the 1st quarter. Royal Bank of Canada now owns 870,958 shares of the software maker’s stock valued at $44,620,000 after acquiring an additional 275,364 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Paylocity by 15.0% in the 2nd quarter. BlackRock Inc. now owns 2,050,204 shares of the software maker’s stock valued at $120,674,000 after acquiring an additional 267,913 shares during the last quarter. Finally, Riverbridge Partners LLC boosted its holdings in shares of Paylocity by 36.5% in the 2nd quarter. Riverbridge Partners LLC now owns 951,801 shares of the software maker’s stock valued at $56,023,000 after acquiring an additional 254,392 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors.
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 Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.
Featured Article: How do investors use RSI to grade stocks?
Receive News & Ratings for Paylocity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paylocity and related companies with MarketBeat.com's FREE daily email newsletter.