Paylocity (NASDAQ:PCTY) Receives Outperform Rating from Raymond James

Raymond James reiterated their outperform rating on shares of Paylocity (NASDAQ:PCTY) in a research report report published on Friday morning,Benzinga reports. Raymond James currently has a $265.00 price objective on the software maker’s stock, up from their prior price objective of $215.00.

A number of other equities research analysts have also weighed in on PCTY. Barclays boosted their target price on shares of Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. KeyCorp upped their price objective on Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday. Citigroup raised Paylocity from a “neutral” rating to a “buy” rating and raised their target price for the stock from $214.00 to $231.00 in a research report on Thursday, January 16th. Needham & Company LLC upped their price target on shares of Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Friday. Finally, Jefferies Financial Group increased their price objective on shares of Paylocity from $215.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $233.25.

Paylocity Trading Down 2.9 %

Shares of NASDAQ:PCTY opened at $205.84 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. Paylocity has a 1 year low of $129.94 and a 1 year high of $223.80. The company has a market cap of $11.48 billion, a P/E ratio of 52.78, a PEG ratio of 5.19 and a beta of 0.95. The stock’s fifty day moving average price is $201.32 and its 200-day moving average price is $180.76.

Paylocity (NASDAQ:PCTY) last posted its earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.93%. Sell-side analysts expect that Paylocity will post 4.46 earnings per share for the current year.

Insider Buying and Selling at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 12,226 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $196.29, for a total transaction of $2,399,841.54. Following the completion of the sale, the director now directly owns 9,300,847 shares of the company’s stock, valued at $1,825,663,257.63. This trade represents a 0.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey T. Diehl sold 4,513 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $209.91, for a total transaction of $947,323.83. Following the completion of the transaction, the director now directly owns 1,003 shares in the company, valued at $210,539.73. This trade represents a 81.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,380 shares of company stock valued at $25,830,669 over the last ninety days. 21.91% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in Paylocity by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock valued at $173,053,000 after buying an additional 36,590 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Paylocity by 81.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock valued at $141,303,000 after acquiring an additional 385,625 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Paylocity by 3.5% in the third quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker’s stock valued at $85,444,000 after purchasing an additional 17,560 shares in the last quarter. GW&K Investment Management LLC increased its position in Paylocity by 0.6% in the fourth quarter. GW&K Investment Management LLC now owns 381,010 shares of the software maker’s stock worth $76,000,000 after purchasing an additional 2,193 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in Paylocity by 283.8% during the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock valued at $51,101,000 after purchasing an additional 229,057 shares in the last quarter. Hedge funds and other institutional investors 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.