Paylocity Holding Corporation (NASDAQ:PCTY) Receives $180.05 Consensus Price Target from Analysts

Shares of Paylocity Holding Corporation (NASDAQ:PCTY) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-one ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and fifteen have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $180.05.

PCTY has been the topic of several recent research reports. Robert W. Baird set a $220.00 price target on Paylocity in a research note on Friday, February 6th. Mizuho dropped their price target on Paylocity from $180.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, February 6th. Citizens Jmp dropped their price target on Paylocity from $245.00 to $170.00 and set a “market outperform” rating on the stock in a research note on Friday, February 6th. Weiss Ratings downgraded Paylocity from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 27th. Finally, KeyCorp dropped their price target on Paylocity from $225.00 to $190.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th.

Paylocity Stock Performance

Shares of Paylocity stock opened at $106.80 on Friday. The company has a market capitalization of $5.75 billion, a PE ratio of 25.13, a PEG ratio of 3.07 and a beta of 0.57. Paylocity has a 12 month low of $100.50 and a 12 month high of $201.97. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.07. The stock’s fifty day simple moving average is $113.56 and its 200 day simple moving average is $136.93.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, February 5th. The software maker reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.28. Paylocity had a return on equity of 23.44% and a net margin of 14.19%.The firm had revenue of $416.13 million for the quarter, compared to the consensus estimate of $408.37 million. During the same quarter last year, the business posted $1.52 EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, research analysts predict that Paylocity will post 4.36 EPS for the current year.

Institutional Trading of Paylocity

Several hedge funds and other institutional investors have recently modified their holdings of PCTY. Flagship Harbor Advisors LLC acquired a new stake in shares of Paylocity in the fourth quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Paylocity by 363.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker’s stock valued at $29,000 after acquiring an additional 149 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Paylocity in the fourth quarter valued at about $30,000. Advisory Services Network LLC acquired a new stake in shares of Paylocity in the third quarter valued at about $38,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Paylocity in the third quarter valued at about $41,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Company Profile

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.