Paylocity (NASDAQ:PCTY – Free Report) had its price target lowered by Truist Financial from $250.00 to $200.00 in a research note issued to investors on Friday, Benzinga reports. Truist Financial currently has a buy rating on the software maker’s stock.
Other analysts have also recently issued reports about the company. UBS Group began coverage on Paylocity in a research report on Tuesday, November 7th. They set a neutral rating and a $160.00 price target on the stock. Citigroup increased their price target on Paylocity from $180.00 to $182.00 and gave the stock a neutral rating in a research report on Wednesday, January 31st. Bank of America began coverage on Paylocity in a research report on Thursday, October 26th. They set a neutral rating and a $210.00 price target on the stock. StockNews.com cut Paylocity from a buy rating to a hold rating in a research report on Wednesday, November 29th. Finally, KeyCorp dropped their price target on Paylocity from $197.00 to $186.00 and set an overweight rating on the stock in a research report on Friday. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Paylocity presently has a consensus rating of Moderate Buy and an average target price of $207.47.
Paylocity Stock Down 3.4 %
Insider Buying and Selling at Paylocity
In other Paylocity news, CFO Ryan Glenn sold 1,400 shares of the stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $163.47, for a total transaction of $228,858.00. Following the completion of the transaction, the chief financial officer now directly owns 34,152 shares of the company’s stock, valued at approximately $5,582,827.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 1,622 shares of company stock valued at $262,902. 22.50% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Paylocity
Several large investors have recently modified their holdings of PCTY. American National Bank bought a new stake in shares of Paylocity during the 4th quarter worth $31,000. GAMMA Investing LLC bought a new stake in shares of Paylocity during the 4th quarter worth $36,000. Principal Securities Inc. bought a new stake in shares of Paylocity during the 4th quarter worth $41,000. RiverPark Advisors LLC bought a new stake in shares of Paylocity during the 3rd quarter worth $43,000. Finally, Advisors Asset Management Inc. boosted its stake in shares of Paylocity by 89.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 237 shares of the software maker’s stock worth $43,000 after acquiring an additional 112 shares in the last quarter. 73.65% of the stock is owned by institutional investors.
Paylocity Company Profile
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.
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