Paylocity (NASDAQ:PCTY) had its price objective upped by Jefferies Financial Group from $85.00 to $103.00 in a research note issued to investors on Friday, The Fly reports. Jefferies Financial Group currently has a hold rating on the software maker’s stock.
A number of other research analysts have also issued reports on PCTY. Zacks Investment Research lowered shares of Paylocity from a buy rating to a hold rating in a research note on Wednesday, April 10th. ValuEngine lowered shares of Paylocity from a strong-buy rating to a buy rating in a research note on Friday, April 5th. Craig Hallum raised their target price on shares of Paylocity from $65.00 to $78.00 and gave the company a hold rating in a research note on Thursday, February 7th. Raymond James raised their target price on shares of Paylocity from $75.00 to $88.00 and gave the company an outperform rating in a research note on Thursday, February 7th. Finally, Stifel Nicolaus raised their price target on shares of Paylocity from $78.00 to $91.00 and gave the stock a buy rating in a research report on Thursday, February 7th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $88.57.
NASDAQ:PCTY opened at $97.11 on Friday. Paylocity has a 1 year low of $52.93 and a 1 year high of $99.80. The firm has a market capitalization of $5.23 billion, a P/E ratio of 313.26, a PEG ratio of 9.11 and a beta of 2.07.
Paylocity (NASDAQ:PCTY) last posted its earnings results on Thursday, May 2nd. The software maker reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.19. Paylocity had a net margin of 9.52% and a return on equity of 16.18%. The business had revenue of $139.60 million for the quarter, compared to analyst estimates of $135.97 million. During the same period last year, the business posted $0.71 EPS. Paylocity’s revenue was up 23.1% compared to the same quarter last year. Equities analysts anticipate that Paylocity will post 0.54 earnings per share for the current fiscal year.
In other news, Director Steven I. Sarowitz sold 72,500 shares of the firm’s stock in a transaction dated Friday, February 8th. The shares were sold at an average price of $81.04, for a total transaction of $5,875,400.00. Following the completion of the transaction, the director now directly owns 14,735,730 shares of the company’s stock, valued at approximately $1,194,183,559.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven R. Beauchamp sold 40,000 shares of the firm’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $83.69, for a total transaction of $3,347,600.00. Following the transaction, the chief executive officer now directly owns 1,885,948 shares of the company’s stock, valued at $157,834,988.12. The disclosure for this sale can be found here. Insiders sold a total of 882,481 shares of company stock worth $75,511,619 over the last 90 days. Company insiders own 41.20% of the company’s stock.
Several large investors have recently added to or reduced their stakes in PCTY. Conestoga Capital Advisors LLC bought a new position in shares of Paylocity during the 4th quarter worth about $35,062,000. Vanguard Group Inc lifted its holdings in shares of Paylocity by 9.7% during the 3rd quarter. Vanguard Group Inc now owns 2,787,057 shares of the software maker’s stock worth $223,856,000 after acquiring an additional 246,433 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Paylocity by 9.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,787,057 shares of the software maker’s stock worth $223,856,000 after acquiring an additional 246,433 shares during the period. Norges Bank bought a new position in shares of Paylocity during the 4th quarter worth about $12,819,000. Finally, FMR LLC lifted its holdings in shares of Paylocity by 19.5% during the 4th quarter. FMR LLC now owns 846,032 shares of the software maker’s stock worth $50,940,000 after acquiring an additional 138,231 shares during the period. 65.29% of the stock is owned by institutional investors.
Paylocity Company Profile
Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.
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