Paylocity Holding Corp (PCTY) Given Average Rating of “Buy” by Brokerages

Paylocity Holding Corp (NASDAQ:PCTY) has been given a consensus rating of “Buy” by the sixteen research firms that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold rating, ten have given 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 a report on the stock in the last year is $90.08.

Several analysts have issued reports on PCTY shares. ValuEngine upgraded shares of Paylocity from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 4th. SunTrust Banks upped their price target on shares of Paylocity to $83.00 and gave the company a “positive” rating in a research note on Tuesday, February 5th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target (up from $80.00) on shares of Paylocity in a research note on Thursday, February 7th. Craig Hallum upped their price target on shares of Paylocity from $65.00 to $78.00 and gave the company a “hold” rating in a research note on Thursday, February 7th. Finally, Stifel Nicolaus upped their price target on shares of Paylocity from $78.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, February 7th.

NASDAQ PCTY traded up $2.55 on Thursday, reaching $92.42. 10,454 shares of the stock traded hands, compared to its average volume of 285,131. The firm has a market cap of $5.31 billion, a PE ratio of 296.26, a price-to-earnings-growth ratio of 8.88 and a beta of 1.91. Paylocity has a 12 month low of $53.46 and a 12 month high of $103.80.

Paylocity (NASDAQ:PCTY) last issued its earnings results on Thursday, May 2nd. The software maker reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.19. The business had revenue of $139.60 million during the quarter, compared to analyst estimates of $135.97 million. Paylocity had a return on equity of 15.29% and a net margin of 9.52%. Paylocity’s revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 EPS. On average, equities research analysts anticipate that Paylocity will post 0.56 earnings per share for the current year.

In other news, SVP Mark S. Kinsey sold 935 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $95.37, for a total value of $89,170.95. Following the completion of the transaction, the senior vice president now owns 85,312 shares of the company’s stock, valued at $8,136,205.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mark S. Kinsey sold 5,000 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $97.01, for a total transaction of $485,050.00. Following the completion of the transaction, the senior vice president now directly owns 85,312 shares of the company’s stock, valued at approximately $8,276,117.12. The disclosure for this sale can be found here. Insiders have sold 227,424 shares of company stock worth $21,780,915 over the last quarter. Corporate insiders own 41.20% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its position in shares of Paylocity by 0.5% during the 1st quarter. AQR Capital Management LLC now owns 23,388 shares of the software maker’s stock worth $2,086,000 after buying an additional 124 shares during the period. FTB Advisors Inc. boosted its holdings in Paylocity by 25.1% during the 4th quarter. FTB Advisors Inc. now owns 642 shares of the software maker’s stock worth $38,000 after acquiring an additional 129 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Paylocity by 7.4% during the 1st quarter. Fifth Third Bancorp now owns 2,581 shares of the software maker’s stock worth $230,000 after acquiring an additional 177 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in Paylocity by 34.8% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 774 shares of the software maker’s stock worth $47,000 after acquiring an additional 200 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its holdings in Paylocity by 2.2% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,390 shares of the software maker’s stock worth $837,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Paylocity Company Profile

Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; 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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Analyst Recommendations for Paylocity (NASDAQ:PCTY)

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