Paylocity (NASDAQ:PCTY) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Paylocity (NASDAQ:PCTYGet Free Report) had its price target upped by investment analysts at BMO Capital Markets from $175.00 to $203.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the software maker’s stock. BMO Capital Markets’ price objective suggests a potential upside of 9.93% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. BTIG Research dropped their price target on Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Mizuho boosted their price objective on Paylocity from $155.00 to $175.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Barclays raised their target price on Paylocity from $156.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. KeyCorp boosted their target price on shares of Paylocity from $182.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Truist Financial cut their price objective on shares of Paylocity from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Paylocity has a consensus rating of “Moderate Buy” and an average target price of $189.93.

Get Our Latest Analysis on Paylocity

Paylocity Stock Performance

Shares of PCTY opened at $184.67 on Thursday. Paylocity has a fifty-two week low of $129.94 and a fifty-two week high of $184.77. The stock has a fifty day moving average of $164.34 and a two-hundred day moving average of $154.70. The company has a market capitalization of $10.30 billion, a PE ratio of 49.18, a price-to-earnings-growth ratio of 4.20 and a beta of 0.95.

Paylocity (NASDAQ:PCTYGet Free Report) last announced its quarterly earnings data on Thursday, August 1st. The software maker reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.19. The business had revenue of $357.30 million for the quarter, compared to analyst estimates of $350.29 million. Paylocity had a net margin of 14.74% and a return on equity of 22.17%. The company’s revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.76 EPS. As a group, equities research analysts forecast that Paylocity will post 4.51 earnings per share for the current fiscal year.

Insider Transactions at Paylocity

In related news, SVP Rachit Lohani sold 658 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total transaction of $107,142.14. Following the sale, the senior vice president now directly owns 39,764 shares of the company’s stock, valued at approximately $6,474,772.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 21.91% of the company’s stock.

Institutional Investors Weigh In On Paylocity

Institutional investors have recently modified their holdings of the business. UMB Bank n.a. grew its holdings 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 valued at $29,000 after purchasing an additional 165 shares during the last quarter. Rothschild Investment LLC bought a new stake in Paylocity in the second quarter valued at $40,000. J.Safra Asset Management Corp boosted its holdings in shares of Paylocity by 80.0% during the first quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock valued at $42,000 after acquiring an additional 108 shares during the period. Signaturefd LLC grew its position in shares of Paylocity by 121.0% during the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after acquiring an additional 167 shares during the last quarter. Finally, RiverPark Advisors LLC increased its holdings in shares of Paylocity by 152.0% in the 1st quarter. RiverPark Advisors LLC now owns 383 shares of the software maker’s stock worth $66,000 after acquiring an additional 231 shares during the period. Institutional investors own 94.76% of the company’s stock.

Paylocity Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Paylocity (NASDAQ:PCTY)

Receive News & Ratings for Paylocity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paylocity and related companies with MarketBeat.com's FREE daily email newsletter.