Paylocity (NASDAQ:PCTY) Sets New 12-Month Low – What’s Next?

Paylocity Holding Corporation (NASDAQ:PCTY) shares hit a new 52-week low during trading on Thursday . The company traded as low as $98.69 and last traded at $95.7880, with a volume of 29316 shares traded. The stock had previously closed at $102.42.

Analyst Upgrades and Downgrades

PCTY has been the topic of a number of recent research reports. UBS Group reduced their price objective on Paylocity from $150.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, February 6th. BMO Capital Markets reduced their price objective on Paylocity from $185.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, February 6th. Stephens set a $160.00 price objective on Paylocity in a research note on Friday, January 16th. Citizens Jmp reduced their price objective on Paylocity from $245.00 to $170.00 and set a “market outperform” rating on the stock in a research note on Friday, February 6th. Finally, Robert W. Baird set a $220.00 price target on Paylocity in a research note on Friday, February 6th. Fifteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Paylocity currently has an average rating of “Moderate Buy” and a consensus target price of $180.05.

Paylocity Price Performance

The company has a 50 day simple moving average of $112.08 and a 200-day simple moving average of $136.28. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 3.07 and a beta of 0.57. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.07.

Paylocity (NASDAQ:PCTY) last announced 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. The firm had revenue of $416.13 million for the quarter, compared to analysts’ expectations of $408.37 million. Paylocity had a return on equity of 23.44% and a net margin of 14.19%.Paylocity’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.52 earnings per share. As a group, research analysts anticipate that Paylocity Holding Corporation will post 4.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Paylocity

A number of hedge funds have recently added to or reduced their stakes in PCTY. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Paylocity by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,388 shares of the software maker’s stock worth $25,551,000 after purchasing an additional 7,594 shares during the period. Focus Partners Wealth boosted its holdings in Paylocity by 24.5% in the first quarter. Focus Partners Wealth now owns 1,365 shares of the software maker’s stock worth $256,000 after purchasing an additional 269 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Paylocity by 537.0% in the second quarter. EverSource Wealth Advisors LLC now owns 465 shares of the software maker’s stock worth $84,000 after purchasing an additional 392 shares during the period. Marshall Wace LLP boosted its holdings in Paylocity by 2,782.7% in the second quarter. Marshall Wace LLP now owns 35,688 shares of the software maker’s stock worth $6,466,000 after purchasing an additional 34,450 shares during the period. Finally, Cerity Partners LLC boosted its holdings in Paylocity by 10.0% in the second quarter. Cerity Partners LLC now owns 19,241 shares of the software maker’s stock worth $3,486,000 after purchasing an additional 1,749 shares during the period. Institutional investors and hedge funds 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.