Paylocity Holding Corp (PCTY) Given Consensus Rating of “Buy” by Analysts

Shares of Paylocity Holding Corp (NASDAQ:PCTY) have been assigned a consensus recommendation of “Buy” from the seventeen analysts that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $55.55.

A number of research analysts recently weighed in on the stock. TheStreet upgraded shares of Paylocity from a “c+” rating to a “b+” rating in a research note on Wednesday, May 23rd. Zacks Investment Research upgraded shares of Paylocity from a “sell” rating to a “hold” rating in a research note on Thursday, May 10th. Robert W. Baird boosted their price target on shares of Paylocity to $56.00 and gave the stock an “outperform” rating in a research note on Monday, May 7th. Stifel Nicolaus boosted their price target on shares of Paylocity from $50.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, May 4th. Finally, Mizuho reiterated a “hold” rating and issued a $45.00 price target on shares of Paylocity in a research note on Thursday, May 3rd.

Shares of Paylocity traded down $0.83, reaching $61.59, during trading hours on Thursday, according to MarketBeat. 896,056 shares of the stock traded hands, compared to its average volume of 260,831. Paylocity has a 52-week low of $41.15 and a 52-week high of $63.21. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 410.60, a price-to-earnings-growth ratio of 7.14 and a beta of 2.00.

Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, May 3rd. The software maker reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.39. Paylocity had a net margin of 10.17% and a return on equity of 11.74%. The company had revenue of $113.41 million for the quarter, compared to analysts’ expectations of $110.74 million. During the same quarter in the previous year, the company earned $0.40 EPS. Paylocity’s revenue for the quarter was up 25.6% on a year-over-year basis. equities research analysts anticipate that Paylocity will post 0.38 EPS for the current year.

In other news, SVP Edward W. Gaty sold 14,287 shares of the business’s stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $59.92, for a total value of $856,077.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ellen Carnahan bought 1,380 shares of Paylocity stock in a transaction dated Friday, March 16th. The stock was acquired at an average price of $53.91 per share, for a total transaction of $74,395.80. Following the completion of the acquisition, the director now owns 7,908 shares in the company, valued at $426,320.28. The disclosure for this purchase can be found here. In the last quarter, insiders sold 244,072 shares of company stock worth $13,904,094. Corporate insiders own 48.80% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Summit Trail Advisors LLC grew its holdings in Paylocity by 6,931.5% during the 1st quarter. Summit Trail Advisors LLC now owns 101,816 shares of the software maker’s stock valued at $102,000 after purchasing an additional 100,368 shares during the last quarter. We Are One Seven LLC grew its holdings in Paylocity by 431.9% during the 1st quarter. We Are One Seven LLC now owns 2,404 shares of the software maker’s stock valued at $123,000 after purchasing an additional 1,952 shares during the last quarter. Cobblestone Capital Advisors LLC NY bought a new position in Paylocity during the 1st quarter valued at about $207,000. Koch Industries Inc. bought a new position in Paylocity during the 1st quarter valued at about $212,000. Finally, Parametrica Management Ltd bought a new position in Paylocity during the 1st quarter valued at about $254,000. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Paylocity Company Profile

Paylocity Holding Corporation provides cloud-based payroll and human capital management (HCM) software solutions for medium-sized organizations in the United States. It offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management and HR compliance and reporting; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.

Analyst Recommendations for Paylocity (NASDAQ:PCTY)

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