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.
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.
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