Paylocity (NASDAQ:PCTY) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of Paylocity (NASDAQ:PCTY) from a buy rating to a hold rating in a research note published on Sunday morning.

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus cut their price target on Paylocity from $188.00 to $165.00 and set a “buy” rating for the company in a report on Friday, February 6th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Paylocity in a research report on Thursday, January 29th. Mizuho cut their target price on shares of Paylocity from $180.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, February 6th. Guggenheim upgraded shares of Paylocity from a “neutral” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Monday, November 10th. Finally, Robert W. Baird set a $220.00 price target on shares of Paylocity in a research note on Friday, February 6th. Fifteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.05.

Paylocity Price Performance

PCTY stock opened at $105.66 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.04 and a current ratio of 1.04. The company’s fifty day moving average price is $137.53 and its 200-day moving average price is $151.03. Paylocity has a one year low of $101.39 and a one year high of $210.35. The company has a market capitalization of $5.69 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 3.04 and a beta of 0.54.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings results on Thursday, February 5th. The software maker reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.28. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. The company had revenue of $416.13 million for the quarter, compared to the consensus estimate of $408.37 million. During the same period in the previous year, the firm posted $1.52 EPS. Paylocity’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, equities analysts anticipate that Paylocity will post 4.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Paylocity

Hedge funds and other institutional investors have recently made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new position in shares of Paylocity during the 4th quarter worth about $27,000. MassMutual Private Wealth & Trust FSB lifted its stake in Paylocity by 363.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker’s stock worth $29,000 after purchasing an additional 149 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Paylocity during the fourth quarter valued at approximately $30,000. Advisory Services Network LLC bought a new position in shares of Paylocity during the third quarter valued at approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Paylocity in the third quarter worth approximately $41,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Company Profile

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.