Piper Sandler Increases Paylocity (NASDAQ:PCTY) Price Target to $210.00

Paylocity (NASDAQ:PCTYGet Free Report) had its price objective boosted by stock analysts at Piper Sandler from $207.00 to $210.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the software maker’s stock. Piper Sandler’s price objective would suggest a potential upside of 26.41% from the company’s current price.

Several other research firms have also weighed in on PCTY. JMP Securities reiterated a “market outperform” rating and issued a $250.00 price objective on shares of Paylocity in a research note on Monday, January 22nd. KeyCorp dropped their price target on shares of Paylocity from $255.00 to $197.00 and set an “overweight” rating on the stock in a research note on Friday, November 3rd. TD Cowen dropped their price target on shares of Paylocity from $195.00 to $185.00 and set an “outperform” rating on the stock in a research note on Monday, December 11th. BTIG Research assumed coverage on shares of Paylocity in a research note on Tuesday, February 6th. They set a “buy” rating and a $200.00 price target on the stock. Finally, Bank of America assumed coverage on shares of Paylocity in a research note on Thursday, October 26th. They set a “neutral” rating and a $210.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Paylocity has an average rating of “Moderate Buy” and a consensus target price of $207.47.

Read Our Latest Stock Analysis on Paylocity

Paylocity Stock Performance

Paylocity stock opened at $166.13 on Friday. The firm has a market cap of $9.33 billion, a PE ratio of 56.13, a P/E/G ratio of 2.97 and a beta of 0.89. The firm’s 50 day moving average price is $160.08 and its two-hundred day moving average price is $176.42. Paylocity has a twelve month low of $139.40 and a twelve month high of $230.52.

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 shares were sold at an average price of $163.47, for a total value of $228,858.00. Following the completion of the sale, 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 legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 1,622 shares of company stock valued at $262,902 in the last ninety days. Company insiders own 22.50% of the company’s stock.

Institutional Trading of Paylocity

A number of hedge funds have recently bought and sold shares of the stock. HighTower Advisors LLC lifted its holdings in shares of Paylocity by 12.9% during the 1st quarter. HighTower Advisors LLC now owns 5,798 shares of the software maker’s stock worth $1,172,000 after acquiring an additional 664 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of Paylocity during the 1st quarter worth about $14,007,000. Sei Investments Co. lifted its holdings in shares of Paylocity by 1.3% during the 1st quarter. Sei Investments Co. now owns 66,053 shares of the software maker’s stock worth $13,594,000 after acquiring an additional 876 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Paylocity during the 1st quarter worth about $144,000. Finally, Covestor Ltd lifted its holdings in shares of Paylocity by 88.1% during the 1st quarter. Covestor Ltd now owns 331 shares of the software maker’s stock worth $68,000 after acquiring an additional 155 shares during the period. 73.65% of the stock is owned by institutional investors.

Paylocity Company Profile

(Get Free Report)

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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Analyst Recommendations for Paylocity (NASDAQ:PCTY)

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