Paylocity (NASDAQ:PCTY) Hits New 52-Week High – Should You Buy?

Paylocity Holding Co. (NASDAQ:PCTY)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $205.21 and last traded at $204.74, with a volume of 15107 shares changing hands. The stock had previously closed at $197.00.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. StockNews.com raised shares of Paylocity from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Jefferies Financial Group lifted their target price on Paylocity from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. BMO Capital Markets lifted their target price on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. KeyCorp increased their target price on Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Mizuho raised their target price on shares of Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Paylocity presently has a consensus rating of “Moderate Buy” and an average target price of $196.64.

Paylocity Trading Down 1.4 %

The stock has a market cap of $11.75 billion, a price-to-earnings ratio of 53.89, a P/E/G ratio of 4.63 and a beta of 0.93. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. The company’s fifty day moving average price is $169.01 and its 200-day moving average price is $156.37.

Insider Transactions at Paylocity

In other news, Director Jeffrey T. Diehl sold 29,606 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $196.55, for a total transaction of $5,819,059.30. Following the sale, the director now owns 11,755 shares of the company’s stock, valued at $2,310,445.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Jeffrey T. Diehl sold 29,606 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $196.55, for a total value of $5,819,059.30. Following the transaction, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $2,310,445.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 directly owns 39,764 shares of the company’s stock, valued at approximately $6,474,772.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,396 shares of company stock worth $5,947,989 over the last three months. 21.91% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Paylocity

Large investors have recently modified their holdings of the company. UMB Bank n.a. raised its position in shares of Paylocity by 1,650.0% during the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after acquiring an additional 165 shares in the last quarter. Rothschild Investment LLC acquired a new position in Paylocity during the second quarter worth about $40,000. J.Safra Asset Management Corp boosted its stake in shares of Paylocity by 80.0% during the 1st quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock worth $42,000 after purchasing an additional 108 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Paylocity by 121.0% during the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after acquiring an additional 167 shares during the period. Finally, Versant Capital Management Inc purchased a new position in shares of Paylocity in the 2nd quarter worth about $66,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Paylocity Company Profile

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.