Paylocity (NASDAQ:PCTY) Given New $255.00 Price Target at Jefferies Financial Group

Paylocity (NASDAQ:PCTY) had its target price hoisted by Jefferies Financial Group from $240.00 to $255.00 in a report released on Friday,Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

PCTY has been the topic of several other reports. UBS Group lifted their price target on Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a research report on Friday. TD Cowen cut their target price on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com upgraded shares of Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday, December 7th. JMP Securities increased their target price on shares of Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a research note on Friday. Finally, Needham & Company LLC upped their price target on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $233.25.

Paylocity Stock Down 2.9 %

PCTY stock opened at $205.84 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. The firm has a market cap of $11.48 billion, a PE ratio of 52.78, a PEG ratio of 5.19 and a beta of 0.95. Paylocity has a 1 year low of $129.94 and a 1 year high of $223.80. The company has a fifty day simple moving average of $201.32 and a 200 day simple moving average of $180.76.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing analysts’ consensus estimates 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 anticipate that Paylocity will post 4.46 EPS for the current fiscal year.

Insider Transactions at Paylocity

In other Paylocity news, CAO Nicholas Rost sold 212 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total value of $40,977.48. Following the transaction, the chief accounting officer now owns 7,364 shares of the company’s stock, valued at approximately $1,423,387.56. The trade was a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven I. Sarowitz sold 2,600 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $200.14, for a total value of $520,364.00. Following the completion of the sale, the director now owns 8,332,347 shares of the company’s stock, valued at approximately $1,667,635,928.58. This trade represents a 0.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,380 shares of company stock valued at $25,830,669. 21.91% of the stock is owned by insiders.

Institutional Investors Weigh In On Paylocity

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of Paylocity by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock worth $173,053,000 after purchasing an additional 36,590 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Paylocity by 81.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock worth $141,303,000 after buying an additional 385,625 shares in the last quarter. Janus Henderson Group PLC boosted its position in Paylocity by 3.5% in the 3rd quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker’s stock valued at $85,444,000 after buying an additional 17,560 shares during the last quarter. GW&K Investment Management LLC increased its stake in shares of Paylocity by 0.6% in the 4th quarter. GW&K Investment Management LLC now owns 381,010 shares of the software maker’s stock valued at $76,000,000 after buying an additional 2,193 shares during the period. Finally, Point72 Asset Management L.P. raised its position in shares of Paylocity by 283.8% during the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock worth $51,101,000 after acquiring an additional 229,057 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

About Paylocity

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.