Brokerages Set Paylocity Holding Co. (NASDAQ:PCTY) PT at $191.88

Shares of Paylocity Holding Co. (NASDAQ:PCTY) have received a consensus recommendation of “Buy” from the twenty brokerages that are presently covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $191.88.

A number of analysts have weighed in on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price objective on shares of Paylocity from $209.00 to $210.00 in a report on Tuesday, December 22nd. Mizuho lifted their target price on shares of Paylocity from $160.00 to $175.00 and gave the company a “neutral” rating in a report on Wednesday, December 16th. Citigroup lifted their target price on shares of Paylocity from $210.00 to $217.00 and gave the company a “neutral” rating in a report on Friday, February 5th. JMP Securities lifted their target price on shares of Paylocity from $195.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, January 26th. Finally, Smith Barney Citigroup lifted their target price on shares of Paylocity from $209.00 to $210.00 in a report on Tuesday, December 22nd.

PCTY stock traded up $8.20 during midday trading on Monday, reaching $192.87. 764 shares of the company were exchanged, compared to its average volume of 275,582. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.16 and a current ratio of 1.16. Paylocity has a 1-year low of $84.48 and a 1-year high of $218.34. The stock’s 50-day simple moving average is $184.00 and its 200 day simple moving average is $189.37. The company has a market cap of $10.49 billion, a price-to-earnings ratio of 163.43, a price-to-earnings-growth ratio of 12.76 and a beta of 1.36.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Wednesday, February 3rd. The software maker reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.14. Paylocity had a net margin of 11.05% and a return on equity of 16.89%. The company had revenue of $146.33 million for the quarter, compared to analysts’ expectations of $143.47 million. On average, research analysts anticipate that Paylocity will post 0.76 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. boosted its position in shares of Paylocity by 3.4% during the 1st quarter. Pacer Advisors Inc. now owns 4,003 shares of the software maker’s stock worth $720,000 after purchasing an additional 131 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Paylocity by 5.9% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 15,443 shares of the software maker’s stock worth $3,191,000 after purchasing an additional 867 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Paylocity during the 4th quarter worth $1,494,000. Jackson Grant Investment Advisers Inc. purchased a new stake in shares of Paylocity during the 4th quarter worth $98,000. Finally, Alamar Capital Management LLC purchased a new stake in shares of Paylocity during the 4th quarter worth $1,680,000. 68.69% of the stock is currently owned by institutional investors.

About Paylocity

Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Payroll module that enables clients to automate key payroll processes and manage compliance; Core HR module, which provides a set of HR capabilities enabling clients to manage HR data; and Talent module that enable clients to manage their talent throughout employees' tenures, starting at recruiting and carrying through onboarding, learning, and performance management.

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Analyst Recommendations for Paylocity (NASDAQ:PCTY)

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