Paylocity (NASDAQ:PCTY) Given New $210.00 Price Target at Truist Financial

Paylocity (NASDAQ:PCTY) had its target price increased by Truist Financial from $195.00 to $210.00 in a research note published on Friday, Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

Other equities analysts also recently issued reports about the stock. BMO Capital Markets increased their target price on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Piper Sandler raised their price target on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Jefferies Financial Group raised their price objective on shares of Paylocity from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. KeyCorp raised their price target on shares of Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Barclays lifted their target price on shares of Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $194.20.

Paylocity Stock Performance

PCTY opened at $191.35 on Friday. Paylocity has a 1-year low of $129.94 and a 1-year high of $193.01. The business has a 50 day moving average price of $166.28 and a two-hundred day moving average price of $155.30. The company has a market capitalization of $10.67 billion, a price-to-earnings ratio of 48.94, a price-to-earnings-growth ratio of 4.64 and a beta of 0.93. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32.

Insider Transactions at Paylocity

In other news, SVP Rachit Lohani sold 658 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total value of $107,142.14. Following the sale, the senior vice president now directly owns 39,764 shares in the company, valued at approximately $6,474,772.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 21.91% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. UMB Bank n.a. grew its position in shares of Paylocity by 1,650.0% during the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after buying an additional 165 shares in the last quarter. J.Safra Asset Management Corp raised its position in Paylocity by 80.0% in the first quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock worth $42,000 after acquiring an additional 108 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Paylocity in the second quarter valued at $40,000. Signaturefd LLC increased its position in Paylocity by 121.0% during the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after purchasing an additional 167 shares in the last quarter. Finally, RiverPark Advisors LLC grew its holdings in Paylocity by 152.0% in the 1st quarter. RiverPark Advisors LLC now owns 383 shares of the software maker’s stock valued at $66,000 after buying an additional 231 shares during the period. 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.