Brokerages Set Paylocity Holding Corporation (NASDAQ:PCTY) Price Target at $180.05

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

A number of brokerages recently issued reports on PCTY. Barclays set a $146.00 target price on Paylocity in a research report on Friday, February 6th. BTIG Research reduced their price objective on Paylocity from $180.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Wall Street Zen downgraded Paylocity from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. Citigroup restated an “outperform” rating on shares of Paylocity in a research report on Friday, February 6th. Finally, UBS Group cut their target price on shares of Paylocity from $150.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, February 6th.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $110.52 on Tuesday. Paylocity has a 12 month low of $100.50 and a 12 month high of $201.97. The firm has a market capitalization of $5.95 billion, a P/E ratio of 26.00, a P/E/G ratio of 3.27 and a beta of 0.58. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.04 and a quick ratio of 1.04. The company’s fifty day moving average price is $126.07 and its 200 day moving average price is $145.03.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data 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 net margin of 14.19% and a return on equity of 23.44%. The company had revenue of $416.13 million during the quarter, compared to the consensus estimate of $408.37 million. During the same quarter in the prior year, the firm posted $1.52 earnings per share. Paylocity’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, sell-side analysts predict that Paylocity will post 4.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Paylocity

Several large investors have recently modified their holdings of the stock. ProShare Advisors LLC raised its position in Paylocity by 3.3% in the second quarter. ProShare Advisors LLC now owns 2,055 shares of the software maker’s stock worth $372,000 after acquiring an additional 65 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Paylocity by 1.6% during the 3rd quarter. Federated Hermes Inc. now owns 4,848 shares of the software maker’s stock worth $772,000 after purchasing an additional 78 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Paylocity by 47.4% during the 2nd quarter. SBI Securities Co. Ltd. now owns 252 shares of the software maker’s stock worth $46,000 after purchasing an additional 81 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Paylocity by 2.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,313 shares of the software maker’s stock valued at $528,000 after purchasing an additional 81 shares in the last quarter. Finally, MGO One Seven LLC increased its holdings in shares of Paylocity by 4.7% in the 3rd quarter. MGO One Seven LLC now owns 2,010 shares of the software maker’s stock valued at $320,000 after purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors 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.