Paylocity (NASDAQ:PCTY) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Tuesday, December 19th.
PCTY has been the subject of several other reports. SunTrust Banks reiterated a “hold” rating and set a $47.00 target price on shares of Paylocity in a report on Friday, November 3rd. TheStreet upgraded shares of Paylocity from a “c” rating to a “b-” rating in a report on Friday, November 3rd. Bank of America boosted their price objective on shares of Paylocity from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, October 24th. Northland Securities restated a “buy” rating and issued a $55.00 price objective on shares of Paylocity in a report on Sunday, September 10th. Finally, Robert W. Baird boosted their price objective on shares of Paylocity from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $52.92.
Paylocity (NASDAQ PCTY) traded up $0.92 during trading on Tuesday, reaching $48.73. The company’s stock had a trading volume of 154,113 shares, compared to its average volume of 230,227. The company has a market cap of $2,510.00, a PE ratio of 270.72, a price-to-earnings-growth ratio of 6.29 and a beta of 2.11. Paylocity has a fifty-two week low of $29.69 and a fifty-two week high of $53.96.
Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, November 2nd. The software maker reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.17. Paylocity had a net margin of 3.11% and a return on equity of 7.98%. The firm had revenue of $81.50 million during the quarter, compared to analyst estimates of $80.88 million. During the same period last year, the business earned $0.07 earnings per share. The business’s revenue was up 25.4% on a year-over-year basis. research analysts forecast that Paylocity will post 0.33 earnings per share for the current fiscal year.
In other Paylocity news, insider Michael R. Haske sold 25,000 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $47.02, for a total transaction of $1,175,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Edward W. Gaty sold 5,062 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $45.82, for a total transaction of $231,940.84. Following the sale, the senior vice president now directly owns 116,135 shares of the company’s stock, valued at approximately $5,321,305.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,376,204 shares of company stock valued at $63,542,933. Company insiders own 48.80% of the company’s stock.
Hedge funds have recently modified their holdings of the company. State of Wisconsin Investment Board bought a new stake in shares of Paylocity during the 2nd quarter valued at $3,660,000. Schwab Charles Investment Management Inc. grew its position in shares of Paylocity by 10.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 113,529 shares of the software maker’s stock valued at $5,130,000 after acquiring an additional 10,911 shares during the period. Chicago Equity Partners LLC bought a new stake in shares of Paylocity during the 2nd quarter valued at $1,129,000. Menta Capital LLC bought a new stake in shares of Paylocity during the 2nd quarter valued at $1,270,000. Finally, Teachers Advisors LLC grew its position in shares of Paylocity by 29.0% during the 2nd quarter. Teachers Advisors LLC now owns 47,178 shares of the software maker’s stock valued at $2,132,000 after acquiring an additional 10,613 shares during the period. 59.78% of the stock is owned by hedge funds and other institutional investors.
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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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