Paylocity Holding Corporation (NASDAQ:PCTY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Paylocity Holding Corporation (NASDAQ:PCTY) has been given an average recommendation of “Moderate Buy” by the twenty-one brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $180.05.

Several analysts have recently weighed in on PCTY shares. Truist Financial lowered their target price on shares of Paylocity from $240.00 to $180.00 and set a “buy” rating on the stock in a report on Friday, February 6th. TD Cowen reaffirmed a “buy” rating on shares of Paylocity in a research note on Friday, February 6th. Mizuho dropped their target price on shares of Paylocity from $180.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, February 6th. KeyCorp lowered their price target on shares of Paylocity from $225.00 to $190.00 and set an “overweight” rating for the company in a report on Friday, February 6th. Finally, Weiss Ratings lowered shares of Paylocity from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, January 27th.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $108.22 on Friday. Paylocity has a one year low of $101.39 and a one year high of $211.41. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 3.19 and a beta of 0.54. The company has a 50-day simple moving average of $138.43 and a 200-day simple moving average of $152.03. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.04 and a current ratio of 1.04.

Paylocity (NASDAQ:PCTY) last issued 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 analysts’ expectations of $408.37 million. During the same quarter in the previous year, the firm posted $1.52 EPS. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, analysts predict that Paylocity will post 4.36 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. 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 boosted its holdings in Paylocity by 363.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker’s stock worth $29,000 after acquiring an additional 149 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Paylocity in the fourth quarter valued at approximately $30,000. Advisory Services Network LLC purchased a new stake in shares of Paylocity during the third quarter valued at approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Paylocity during the third quarter worth $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.