Paylocity (NASDAQ:PCTY) PT Lowered to $185.00

Paylocity (NASDAQ:PCTYGet Free Report) had its target price cut by research analysts at Stifel Nicolaus from $205.00 to $185.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Stifel Nicolaus’ price target suggests a potential upside of 31.64% from the stock’s previous close.

Several other equities analysts have also recently weighed in on PCTY. Barclays raised their price target on Paylocity from $166.00 to $178.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Needham & Company LLC restated a “buy” rating and set a $200.00 price target on shares of Paylocity in a report on Friday, May 3rd. KeyCorp lifted their target price on Paylocity from $186.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Citigroup lifted their target price on Paylocity from $176.00 to $178.00 and gave the stock a “neutral” rating in a report on Wednesday, May 22nd. Finally, BTIG Research started coverage on Paylocity in a report on Tuesday, February 6th. They issued a “buy” rating and a $200.00 target price for the company. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $195.69.

Check Out Our Latest Analysis on Paylocity

Paylocity Trading Up 1.5 %

Shares of PCTY opened at $140.54 on Wednesday. The business’s 50 day moving average is $160.64 and its 200 day moving average is $162.15. The company has a market capitalization of $7.93 billion, a PE ratio of 40.85, a price-to-earnings-growth ratio of 2.56 and a beta of 0.89. Paylocity has a 12-month low of $135.76 and a 12-month high of $230.52.

Paylocity (NASDAQ:PCTYGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The software maker reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.29. The business had revenue of $401.28 million during the quarter, compared to analysts’ expectations of $396.93 million. Paylocity had a return on equity of 22.08% and a net margin of 14.42%. Equities research analysts predict that Paylocity will post 3.95 earnings per share for the current year.

Insider Activity at Paylocity

In related news, Director Jeffrey T. Diehl sold 1,760 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $171.64, for a total transaction of $302,086.40. Following the completion of the transaction, the director now owns 14,704 shares in the company, valued at approximately $2,523,794.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Paylocity news, Director Jeffrey T. Diehl sold 20,032 shares of Paylocity stock in a transaction on Monday, March 11th. The stock was sold at an average price of $168.55, for a total transaction of $3,376,393.60. Following the completion of the sale, the director now directly owns 16,391 shares of the company’s stock, valued at approximately $2,762,703.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey T. Diehl sold 1,760 shares of Paylocity stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $171.64, for a total value of $302,086.40. Following the sale, the director now directly owns 14,704 shares of the company’s stock, valued at $2,523,794.56. The disclosure for this sale can be found here. 22.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Paylocity

A number of institutional investors and hedge funds have recently bought and sold shares of PCTY. Venturi Wealth Management LLC raised its position in Paylocity by 144.1% during the 1st quarter. Venturi Wealth Management LLC now owns 166 shares of the software maker’s stock valued at $29,000 after purchasing an additional 98 shares in the last quarter. American National Bank purchased a new stake in shares of Paylocity during the 4th quarter worth $31,000. GAMMA Investing LLC purchased a new stake in shares of Paylocity during the 4th quarter worth $36,000. Principal Securities Inc. purchased a new stake in shares of Paylocity during the 4th quarter worth $41,000. Finally, J.Safra Asset Management Corp lifted 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. 94.76% 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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