Paylocity (NASDAQ:PCTY) Given New $220.00 Price Target at UBS Group

Paylocity (NASDAQ:PCTY) had its price objective lifted by stock analysts at UBS Group from $211.00 to $220.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the software maker’s stock. UBS Group’s price target points to a potential upside of 5.24% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Truist Financial raised their price objective on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Citigroup raised shares of Paylocity from a “neutral” rating to a “buy” rating and upped their price objective for the company from $214.00 to $231.00 in a research report on Thursday, January 16th. Jefferies Financial Group increased their target price on Paylocity from $215.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, December 9th. StockNews.com upgraded shares of Paylocity from a “hold” rating to a “buy” rating in a research note on Saturday, December 7th. Finally, Mizuho upgraded shares of Paylocity from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $200.00 to $235.00 in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $225.40.

Paylocity Stock Down 1.4 %

Paylocity stock traded down $2.96 during mid-day trading on Friday, hitting $209.06. The company had a trading volume of 380,246 shares, compared to its average volume of 503,838. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. Paylocity has a 1 year low of $129.94 and a 1 year high of $223.80. The stock has a market cap of $11.65 billion, a price-to-earnings ratio of 53.78, a PEG ratio of 5.03 and a beta of 0.95. The business has a fifty day moving average of $201.32 and a 200 day moving average of $180.76.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a net margin of 15.32% and a return on equity of 22.92%. On average, sell-side analysts expect that Paylocity will post 4.46 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Steven I. Sarowitz sold 15,444 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $195.43, for a total transaction of $3,018,220.92. Following the transaction, the director now owns 9,272,906 shares of the company’s stock, valued at approximately $1,812,204,019.58. This trade represents a 0.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Andrew Cappotelli sold 247 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $47,742.63. Following the transaction, the senior vice president now owns 14,634 shares in the company, valued at approximately $2,828,605.86. This trade represents a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,380 shares of company stock worth $25,830,669 in the last 90 days. Company insiders own 21.91% of the company’s stock.

Institutional Trading of Paylocity

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new position in shares of Paylocity in the 4th quarter valued at about $29,000. UMB Bank n.a. lifted its stake in Paylocity by 1,650.0% in the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after buying an additional 165 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Paylocity in the third quarter valued at approximately $39,000. Steward Partners Investment Advisory LLC increased its position in shares of Paylocity by 29.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock worth $55,000 after acquiring an additional 63 shares in the last quarter. Finally, Signaturefd LLC lifted its position in Paylocity by 121.0% in the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after acquiring an additional 167 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Company Profile

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.