Paylocity (PCTY) – Analysts’ Weekly Ratings Updates

Paylocity (NASDAQ: PCTY) recently received a number of ratings updates from brokerages and research firms:

• 6/24/2024 – Paylocity had its price target lowered by analysts at Jefferies Financial Group Inc. from $180.00 to $145.00. They now have a “hold” rating on the stock.
• 6/20/2024 – Paylocity had its price target lowered by analysts at TD Cowen from $180.00 to $153.00. They now have a “buy” rating on the stock.
• 6/18/2024 – Paylocity had its price target lowered by analysts at Robert W. Baird from $225.00 to $195.00. They now have an “outperform” rating on the stock.
• 6/18/2024 – Paylocity had its price target lowered by analysts at Citigroup Inc. from $178.00 to $155.00. They now have a “neutral” rating on the stock.
• 6/5/2024 – Paylocity had its price target lowered by analysts at Stifel Nicolaus from $205.00 to $185.00. They now have a “buy” rating on the stock.
• 5/22/2024 – Paylocity had its price target raised by analysts at Citigroup Inc. from $176.00 to $178.00. They now have a “neutral” rating on the stock.
• 5/3/2024 – Paylocity had its price target raised by analysts at KeyCorp from $186.00 to $200.00. They now have an “overweight” rating on the stock.
• 5/3/2024 – Paylocity had its price target lowered by analysts at Piper Sandler from $210.00 to $194.00. They now have an “overweight” rating on the stock.
• 5/3/2024 – Paylocity had its price target raised by analysts at Barclays PLC from $166.00 to $178.00. They now have an “equal weight” rating on the stock.
• 5/3/2024 – Paylocity had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $200.00 price target on the stock.
• 5/3/2024 – Paylocity had its price target lowered by analysts at TD Cowen from $188.00 to $180.00. They now have a “buy” rating on the stock.

Paylocity Price Performance

Shares of PCTY stock traded up $0.21 during trading hours on Thursday, reaching $132.21. 500,395 shares of the company’s stock were exchanged, compared to its average volume of 521,559. The company’s 50 day moving average is $152.35 and its two-hundred day moving average is $160.64. The company has a market cap of $7.46 billion, a P/E ratio of 38.43, a price-to-earnings-growth ratio of 2.44 and a beta of 0.89. Paylocity Holding Co. has a 1 year low of $131.00 and a 1 year high of $230.52.

Paylocity (NASDAQ:PCTY) last issued its earnings results on Thursday, May 2nd. The software maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.28 by $0.29. Paylocity had a net margin of 14.42% and a return on equity of 22.08%. The company had revenue of $401.28 million for the quarter, compared to analyst estimates of $396.93 million. As a group, analysts predict that Paylocity Holding Co. will post 3.95 EPS for the current fiscal year.

Insider Buying and Selling

In other Paylocity news, CAO Nicholas Rost sold 331 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $138.73, for a total transaction of $45,919.63. Following the completion of the transaction, the chief accounting officer now directly owns 4,751 shares in the company, valued at approximately $659,106.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.50% of the stock is currently owned by insiders.

Institutional Trading of Paylocity

Several institutional investors and hedge funds have recently made changes to their positions in PCTY. Stifel Financial Corp raised its position in shares of Paylocity by 5.4% in the third quarter. Stifel Financial Corp now owns 19,148 shares of the software maker’s stock valued at $3,479,000 after buying an additional 974 shares during the last quarter. Northern Trust Corp increased its stake in Paylocity by 2.3% in the third quarter. Northern Trust Corp now owns 441,200 shares of the software maker’s stock valued at $80,166,000 after purchasing an additional 9,893 shares during the last quarter. Teza Capital Management LLC lifted its position in Paylocity by 94.8% during the third quarter. Teza Capital Management LLC now owns 6,801 shares of the software maker’s stock worth $1,236,000 after buying an additional 3,309 shares during the period. Schonfeld Strategic Advisors LLC boosted its stake in Paylocity by 43.4% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 14,000 shares of the software maker’s stock worth $2,544,000 after buying an additional 4,236 shares during the last quarter. Finally, AXQ Capital LP purchased a new stake in Paylocity in the 3rd quarter valued at about $581,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

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.