William Blair reissued their outperform rating on shares of Paylocity (NASDAQ:PCTY) in a research report report published on Friday morning.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Paylocity from a buy rating to a hold rating in a report on Friday, November 10th. BidaskClub cut shares of Paylocity from a hold rating to a sell rating in a report on Wednesday, December 27th. SunTrust Banks reiterated a hold rating and issued a $47.00 price target on shares of Paylocity in a report on Friday, November 3rd. Mizuho reiterated a hold rating and issued a $45.00 price target on shares of Paylocity in a report on Thursday, October 12th. Finally, Robert W. Baird upped their price target on shares of Paylocity from $52.00 to $56.00 and gave the company an outperform rating in a report on Friday, November 3rd. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Paylocity currently has a consensus rating of Buy and a consensus target price of $52.92.
Paylocity (NASDAQ:PCTY) opened at $44.25 on Friday. The firm has a market cap of $2,315.09, a P/E ratio of 201.14, a PEG ratio of 5.77 and a beta of 2.09. Paylocity has a 1-year low of $33.67 and a 1-year high of $53.96.
Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, February 8th. The software maker reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.04. The company had revenue of $86.00 million during the quarter, compared to analysts’ expectations of $85.03 million. Paylocity had a net margin of 3.57% and a return on equity of 9.09%. The business’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 earnings per share. equities research analysts expect that Paylocity will post 0.33 earnings per share for the current fiscal year.
In other news, SVP Edward W. Gaty sold 5,062 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $45.82, for a total value of $231,940.84. Following the transaction, the senior vice president now directly owns 116,135 shares of the company’s stock, valued at $5,321,305.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven I. Sarowitz sold 1,296,142 shares of the 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 directly owns 15,343,130 shares in the company, valued at $707,932,018.20. The disclosure for this sale can be found here. Insiders have sold 1,369,846 shares of company stock valued at $63,474,241 in the last 90 days. 48.80% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. grew its stake in Paylocity by 22.6% during the second quarter. Ameritas Investment Partners Inc. now owns 2,282 shares of the software maker’s stock worth $103,000 after buying an additional 421 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in Paylocity during the second quarter worth about $208,000. GSA Capital Partners LLP acquired a new stake in Paylocity during the third quarter worth about $211,000. Fortaleza Asset Management Inc. acquired a new stake in Paylocity during the fourth quarter worth about $255,000. Finally, Jane Street Group LLC acquired a new stake in shares of Paylocity in the 3rd quarter valued at approximately $260,000. Hedge funds and other institutional investors own 60.47% of the company’s stock.
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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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