Paylocity Holding Corporation (NASDAQ:PCTY) Receives Average Rating of “Moderate Buy” from Analysts

Paylocity Holding Corporation (NASDAQ:PCTY) has been given an average rating of “Moderate Buy” by the twenty-one ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $180.05.

A number of analysts recently weighed in on the stock. Wall Street Zen cut shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Sunday, February 22nd. Stifel Nicolaus cut their price objective on shares of Paylocity from $188.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Weiss Ratings downgraded shares of Paylocity from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, January 27th. UBS Group cut their price objective on shares of Paylocity from $150.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, February 6th. Finally, BMO Capital Markets cut their price objective on shares of Paylocity from $185.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, February 6th.

Paylocity Stock Down 3.6%

Shares of NASDAQ:PCTY opened at $102.42 on Friday. The stock has a market cap of $5.52 billion, a P/E ratio of 24.10, a P/E/G ratio of 3.07 and a beta of 0.57. The firm has a fifty day moving average price of $112.08 and a 200 day moving average price of $136.28. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.04 and a quick ratio of 1.04. Paylocity has a 1-year low of $100.50 and a 1-year high of $201.97.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, February 5th. The software maker reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.28. The firm had revenue of $416.13 million during the quarter, compared to analysts’ expectations of $408.37 million. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. Paylocity’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.52 EPS. Sell-side analysts predict that Paylocity will post 4.36 EPS for the current year.

Hedge Funds Weigh In On Paylocity

A number of large investors have recently bought and sold shares of the company. Federated Hermes Inc. raised its position in 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 buying an additional 78 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Paylocity by 2.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,313 shares of the software maker’s stock worth $528,000 after buying an additional 81 shares during the last quarter. MGO One Seven LLC raised its position in Paylocity by 4.7% during the 3rd quarter. MGO One Seven LLC now owns 2,010 shares of the software maker’s stock worth $320,000 after buying an additional 90 shares during the last quarter. Securian Asset Management Inc. raised its position in Paylocity by 3.1% during the 3rd quarter. Securian Asset Management Inc. now owns 3,355 shares of the software maker’s stock worth $534,000 after buying an additional 100 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Paylocity by 35.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 428 shares of the software maker’s stock worth $77,000 after buying an additional 111 shares during 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.