Paylocity (NASDAQ:PCTY) Downgraded by StockNews.com to Hold

by · The Markets Daily

StockNews.com downgraded shares of Paylocity (NASDAQ:PCTY – Free Report) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

Several other equities analysts have also recently weighed in on the company. BTIG Research cut their price objective on Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. JMP Securities reissued a “market outperform” rating and issued a $250.00 target price on shares of Paylocity in a research report on Monday, August 5th. KeyCorp lifted their target price on Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Piper Sandler lifted their target price on Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group boosted their price target on Paylocity from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $196.64.

Read Our Latest Stock Report on Paylocity

Paylocity Stock Up 0.2 %

Shares of NASDAQ:PCTY traded up $0.45 during trading on Friday, hitting $211.16. 506,731 shares of the company’s stock traded hands, compared to its average volume of 504,839. Paylocity has a 52 week low of $129.94 and a 52 week high of $213.98. 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 company has a market cap of $11.77 billion, a price-to-earnings ratio of 54.01, a price-to-earnings-growth ratio of 5.36 and a beta of 0.93. The company has a 50-day moving average price of $170.00 and a 200-day moving average price of $156.71.

Insider Activity at Paylocity

In related news, CFO Ryan Glenn sold 500 shares of the business’s 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 completion of the sale, the chief financial officer now directly owns 52,134 shares in the company, valued at $10,597,799.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Rachit Lohani sold 658 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 39,764 shares in the company, 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 can be accessed through this hyperlink. Also, CFO Ryan Glenn sold 500 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were 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 of the company’s stock, valued at approximately $10,597,799.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,896 shares of company stock worth $6,049,629 in the last ninety days. 21.91% of the stock is owned by company insiders.

Institutional Trading of Paylocity

A number of institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC lifted its position in shares of Paylocity by 16,397.9% during the 3rd quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock worth $1,279,000 after buying an additional 7,707 shares during the last quarter. Cetera Advisors LLC bought a new stake in shares of Paylocity during the 1st quarter worth $729,000. Price T Rowe Associates Inc. MD lifted its position in shares of Paylocity by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock worth $1,518,176,000 after buying an additional 278,607 shares during the last quarter. Capital Research Global Investors bought a new stake in shares of Paylocity during the 1st quarter worth $46,902,000. Finally, Plato Investment Management Ltd lifted its position in shares of Paylocity by 4,853.3% during the 1st quarter. Plato Investment Management Ltd now owns 3,715 shares of the software maker’s stock worth $638,000 after buying an additional 3,640 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors.

Paylocity Company Profile

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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.

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