Paylocity (NASDAQ:PCTY) Price Target Raised to $200.00 at Mizuho

Paylocity (NASDAQ:PCTY) had its target price raised by Mizuho from $180.00 to $200.00 in a research report released on Friday morning,Benzinga reports. They currently have a neutral rating on the software maker’s stock.

Several other equities analysts have also issued reports on PCTY. TD Cowen boosted their price target on shares of Paylocity from $208.00 to $235.00 and gave the company a “buy” rating in a report on Monday, December 9th. Needham & Company LLC increased their target price on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Piper Sandler upped their price objective on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. StockNews.com raised shares of Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday, December 7th. Finally, Truist Financial lifted their price target on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.71.

Paylocity Stock Performance

Shares of Paylocity stock opened at $200.17 on Friday. The firm has a fifty day moving average of $191.37 and a two-hundred day moving average of $163.69. Paylocity has a 52 week low of $129.94 and a 52 week high of $215.68. The stock has a market capitalization of $11.16 billion, a price-to-earnings ratio of 51.19, a PEG ratio of 5.00 and a beta of 0.92. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32.

Insider Buying and Selling at Paylocity

In other news, CAO Nicholas Rost sold 212 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $40,977.48. Following the sale, the chief accounting officer now owns 7,364 shares of the company’s stock, valued at $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 SEC, which is available at the SEC website. Also, CFO Ryan Glenn sold 500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $203.28, for a total value of $101,640.00. Following the sale, the chief financial officer now owns 52,134 shares in the company, valued at approximately $10,597,799.52. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 129,089 shares of company stock valued at $25,991,644. Company insiders own 21.91% of the company’s stock.

Institutional Trading of Paylocity

Hedge funds and other institutional investors have recently bought and sold shares of the company. CIBC Asset Management Inc increased its holdings in shares of Paylocity by 3.6% in the third quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker’s stock worth $273,000 after purchasing an additional 58 shares during the period. Chicago Partners Investment Group LLC raised its holdings in shares of Paylocity by 3.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker’s stock valued at $395,000 after acquiring an additional 82 shares in the last quarter. Covestor Ltd raised its holdings in shares of Paylocity by 6.4% in the 3rd quarter. Covestor Ltd now owns 1,373 shares of the software maker’s stock valued at $227,000 after acquiring an additional 83 shares in the last quarter. King Luther Capital Management Corp grew its holdings in shares of Paylocity by 1.0% during the second quarter. King Luther Capital Management Corp now owns 9,981 shares of the software maker’s stock worth $1,316,000 after purchasing an additional 103 shares in the last quarter. Finally, SkyOak Wealth LLC increased its position in shares of Paylocity by 7.1% in the second quarter. SkyOak Wealth LLC now owns 1,837 shares of the software maker’s stock worth $242,000 after purchasing an additional 122 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.