Paylocity (NASDAQ:PCTY) Given New $210.00 Price Target at BTIG Research

Paylocity (NASDAQ:PCTY) had its price objective increased by BTIG Research from $200.00 to $210.00 in a research report report published on Friday,Benzinga reports. BTIG Research currently has a buy rating on the software maker’s stock.

PCTY has been the subject of a number of other reports. BMO Capital Markets upped their price objective on Paylocity from $143.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Barclays boosted their target price on Paylocity from $154.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 13th. Guggenheim upped their target price on Paylocity from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, October 23rd. KeyCorp increased their price target on shares of Paylocity from $178.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. Finally, Citigroup lifted their price target on shares of Paylocity from $168.00 to $208.00 and gave the stock a “buy” rating in a research note on Tuesday, October 27th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $177.47.

Paylocity Price Performance

Paylocity stock traded up $3.58 during mid-day trading on Friday, hitting $173.15. 1,225,928 shares of the company traded hands, compared to its average volume of 596,017. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09. Paylocity has a one year low of $92.99 and a one year high of $180.88. The stock has a market cap of $9.03 billion, a price-to-earnings ratio of 33.56, a price-to-earnings-growth ratio of 2.06 and a beta of 0.43. The stock has a fifty day moving average price of $156.11 and a 200-day moving average price of $127.44.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, November 5th. The software maker reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.16. The company had revenue of $451.67 million during the quarter, compared to the consensus estimate of $443.12 million. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.75 EPS. On average, equities analysts predict that Paylocity will post 6.92 earnings per share for the current fiscal year.

Insider Activity at Paylocity

In other news, Director Steven I. Sarowitz sold 8,900 shares of the firm’s stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $171.31, for a total value of $1,524,659.00. Following the transaction, the director owned 4,354,869 shares in the company, valued at approximately $746,032,608.39. This trade represents a 0.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Steven Beauchamp sold 15,000 shares of Paylocity stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $165.22, for a total transaction of $2,478,300.00. Following the completion of the transaction, the chairman directly owned 1,243,389 shares in the company, valued at approximately $205,432,730.58. The trade was a 1.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 151,704 shares of company stock valued at $25,137,741 in the last quarter. Corporate insiders own 19.40% of the company’s stock.

Institutional Investors Weigh In On Paylocity

Several institutional investors have recently added to or reduced their stakes in PCTY. Diversified Trust Co increased its position in shares of Paylocity by 0.8% in the third quarter. Diversified Trust Co now owns 9,412 shares of the software maker’s stock valued at $1,342,000 after acquiring an additional 78 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Paylocity by 1.8% during the third quarter. Versant Capital Management Inc now owns 4,639 shares of the software maker’s stock worth $661,000 after purchasing an additional 82 shares during the period. Allworth Financial LP boosted its holdings in shares of Paylocity by 2.9% during the third quarter. Allworth Financial LP now owns 3,328 shares of the software maker’s stock worth $474,000 after purchasing an additional 93 shares during the period. State of Michigan Retirement System grew its stake in shares of Paylocity by 1.0% in the first quarter. State of Michigan Retirement System now owns 10,472 shares of the software maker’s stock worth $1,131,000 after purchasing an additional 100 shares during the last quarter. Finally, State of Wyoming grew its stake in shares of Paylocity by 16.0% in the first quarter. State of Wyoming now owns 861 shares of the software maker’s stock worth $93,000 after purchasing an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity News Roundup

Here are the key news stories impacting Paylocity this week:

• Positive Sentiment: For Q1 fiscal 2027, Paylocity reported adjusted earnings of $2.09 per share, versus the $1.93 consensus, and revenue of $451.7 million, above the $443.1 million estimate. Revenue increased 10.7% year over year, while recurring and other revenue rose 12%. The company’s full-year outlook slightly exceeded expectations. Paylocity Announces First Quarter Fiscal 2027 Financial Results
• Positive Sentiment: Analyst target increases added to the upbeat tone: Citizens JMP raised its target to $200 and kept a market outperform rating; Truist raised its target to $200 and maintained Buy; and BTIG lifted its target to $210 and reiterated Buy. Citizens JMP recommendations Truist target change BTIG Research recommendations
• Positive Sentiment: Paylocity repurchased $152.5 million of shares during the quarter, continuing a buyback program that may support per-share results. It also completed the acquisition of Aidora to expand AI-powered leave-management capabilities. Quarterly results release
• Neutral Sentiment: Barclays raised its price target to $176 but maintained an Equal Weight rating, signaling a more cautious view than the other target revisions. Barclays recommendations

Paylocity Company Profile

Paylocity Holding Corporation (NASDAQ:PCTY) provides cloud-based human capital management (HCM) and payroll software for organizations. Its platform is designed to help employers manage payroll, human resources, employee benefits, talent acquisition, onboarding, performance, learning, and workforce administration through an integrated system.

The company also offers tools for time and labor management, scheduling, employee communications, engagement, surveys, expense management, and other workplace activities.