StockNews.com Downgrades Paylocity (NASDAQ:PCTY) to Hold

StockNews.com cut shares of Paylocity (NASDAQ:PCTY) from a buy rating to a hold rating in a research note published on Saturday morning.

Other equities research analysts have also recently issued research reports about the stock. Mizuho lifted their price target on shares of Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. BMO Capital Markets upped their target price on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Barclays raised their price target on Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. BTIG Research dropped their price objective on Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, JMP Securities restated a “market outperform” rating and set a $250.00 target price on shares of Paylocity in a report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $196.64.

Paylocity Trading Up 0.8 %

Shares of PCTY opened at $212.85 on Friday. The stock’s fifty day simple moving average is $171.00 and its 200-day simple moving average is $157.10. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $11.87 billion, a PE ratio of 54.45, a price-to-earnings-growth ratio of 5.30 and a beta of 0.93. Paylocity has a 12-month low of $129.94 and a 12-month high of $215.68.

Insiders Place Their Bets

In related news, CFO Ryan Glenn sold 500 shares of Paylocity stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $203.28, for a total value of $101,640.00. Following the sale, the chief financial officer now owns 52,134 shares of the company’s stock, valued at approximately $10,597,799.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jeffrey T. Diehl sold 29,606 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was 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 in the company, valued at approximately $2,310,445.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Ryan Glenn sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $203.28, for a total value of $101,640.00. Following the transaction, the chief financial officer now directly owns 52,134 shares in the company, valued at $10,597,799.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,896 shares of company stock worth $6,049,629. Corporate insiders own 21.91% of the company’s stock.

Hedge Funds Weigh In On Paylocity

Institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. increased its position in Paylocity by 1,650.0% during the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after buying an additional 165 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Paylocity during the 3rd quarter worth approximately $39,000. J.Safra Asset Management Corp raised its stake in Paylocity by 80.0% in the 1st quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock valued at $42,000 after acquiring an additional 108 shares during the period. Rothschild Investment LLC acquired a new stake in Paylocity during the 2nd quarter valued at $40,000. Finally, Signaturefd LLC boosted its position in Paylocity by 121.0% during the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after purchasing an additional 167 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.