Paylocity Holding Corp (NASDAQ:PCTY) has earned an average rating of “Buy” from the nineteen analysts that are currently covering the stock, Marketbeat reports. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $53.73.
A number of brokerages have commented on PCTY. BidaskClub upgraded Paylocity from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Bank of America lifted their target price on Paylocity from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, October 24th. SunTrust Banks restated a “hold” rating and issued a $47.00 target price on shares of Paylocity in a research note on Friday, November 3rd. Robert W. Baird lifted their target price on Paylocity from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Finally, TheStreet upgraded Paylocity from a “c” rating to a “b-” rating in a research note on Friday, November 3rd.
In other news, Director Steven I. Sarowitz sold 1,296,142 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $46.14, for a total transaction of $59,803,991.88. Following the completion of the transaction, the director now owns 15,343,130 shares of the company’s stock, valued at $707,932,018.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven R. Beauchamp sold 19,958 shares of the stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $50.09, for a total transaction of $999,696.22. Following the completion of the transaction, the chief executive officer now directly owns 2,168,270 shares of the company’s stock, valued at approximately $108,608,644.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,369,846 shares of company stock worth $63,474,241. 48.80% of the stock is currently owned by corporate insiders.
Paylocity (NASDAQ:PCTY) traded down $1.34 during trading hours on Friday, reaching $42.91. The company had a trading volume of 590,100 shares, compared to its average volume of 248,388. Paylocity has a fifty-two week low of $34.13 and a fifty-two week high of $53.96. The firm has a market capitalization of $2,260.00, a P/E ratio of 195.05, a price-to-earnings-growth ratio of 6.18 and a beta of 2.09.
Paylocity (NASDAQ:PCTY) last issued its earnings results on Thursday, February 8th. The software maker reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.04. Paylocity had a return on equity of 9.09% and a net margin of 3.57%. The company had revenue of $86.00 million during the quarter, compared to the consensus estimate of $85.03 million. During the same period in the previous year, the firm posted $0.10 earnings per share. Paylocity’s quarterly revenue was up 25.3% compared to the same quarter last year. analysts predict that Paylocity will post 0.33 earnings per share for the current year.
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Paylocity Company Profile
Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (HCM), software solutions for medium-sized organizations. The Company’s services are provided in a software-as-a-service delivery model utilizing its cloud-based platform. The cloud-based platform provides a suite of applications using a multi-tenant architecture.
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