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

Paylocity (NASDAQ:PCTY) had its target price increased by Mizuho from $175.00 to $180.00 in a research note published on Monday morning, Benzinga reports. The firm currently has a neutral rating on the software maker’s stock.

Several other equities analysts have also issued reports on PCTY. Truist Financial lifted their price target on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Friday. BMO Capital Markets increased their target price on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. BTIG Research reduced their price target on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Needham & Company LLC upped their price objective on shares of Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, JMP Securities restated a “market outperform” rating and issued a $250.00 target price on shares of Paylocity in a research report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $194.20.

Paylocity Price Performance

Shares of Paylocity stock traded up $1.86 on Monday, reaching $193.21. 18,997 shares of the stock were exchanged, compared to its average volume of 498,914. Paylocity has a one year low of $129.94 and a one year high of $193.22. The firm has a market cap of $10.77 billion, a PE ratio of 48.94, a P/E/G ratio of 4.64 and a beta of 0.93. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The firm’s 50 day moving average is $166.28 and its 200-day moving average is $155.30.

Insider Transactions at Paylocity

In other Paylocity news, SVP Rachit Lohani sold 658 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total transaction of $107,142.14. Following the completion of the sale, the senior vice president now owns 39,764 shares of the company’s stock, valued at approximately $6,474,772.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 21.91% of the stock is owned by corporate insiders.

Institutional Trading of Paylocity

A number of large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in shares of Paylocity by 3.3% during 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. Capital Research Global Investors acquired a new stake in shares of Paylocity during the 1st quarter worth approximately $46,902,000. Millennium Management LLC increased its stake in shares of Paylocity by 435.2% in the 2nd quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock valued at $43,676,000 after acquiring an additional 269,354 shares in the last quarter. Liontrust Investment Partners LLP boosted its stake in Paylocity by 27.1% during the second quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock worth $106,840,000 after acquiring an additional 172,807 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in Paylocity by 1,662.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 181,920 shares of the software maker’s stock worth $23,986,000 after purchasing an additional 171,597 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

About Paylocity

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.