Shares of Paylocity Holding Corp. (NASDAQ:PCTY) have received a consensus recommendation of “Buy” from the thirteen research firms that are covering the firm. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $47.90.

A number of equities analysts have weighed in on PCTY shares. First Analysis cut shares of Paylocity Holding Corp. from an “overweight” rating to an “equal weight” rating and set a $42.00 price objective for the company. in a research report on Friday, July 8th. Deutsche Bank AG increased their price target on shares of Paylocity Holding Corp. from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Pacific Crest reaffirmed a “hold” rating on shares of Paylocity Holding Corp. in a research report on Wednesday, September 28th. Zacks Investment Research cut shares of Paylocity Holding Corp. from a “buy” rating to a “hold” rating in a research report on Saturday, July 30th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and set a $50.00 price target on shares of Paylocity Holding Corp. in a research report on Friday, September 30th.

In other Paylocity Holding Corp. news, VP Michael R. Haske sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $45.33, for a total value of $4,533,000.00. Following the sale, the vice president now owns 1,469,882 shares in the company, valued at $66,629,751.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Peter J. Mcgrail sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $43.17, for a total transaction of $215,850.00. Following the completion of the sale, the chief financial officer now owns 146,976 shares in the company, valued at approximately $6,344,953.92. The disclosure for this sale can be found here. Corporate insiders own 60.80% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Franklin Resources Inc. raised its stake in shares of Paylocity Holding Corp. by 40.1% in the first quarter. Franklin Resources Inc. now owns 2,643,065 shares of the company’s stock valued at $86,534,000 after buying an additional 756,779 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in shares of Paylocity Holding Corp. by 46.6% in the first quarter. TimesSquare Capital Management LLC now owns 908,870 shares of the company’s stock valued at $29,756,000 after buying an additional 288,720 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of Paylocity Holding Corp. during the first quarter valued at approximately $1,032,000. Menta Capital LLC purchased a new stake in shares of Paylocity Holding Corp. during the first quarter valued at approximately $239,000. Finally, Pegasus Partners Ltd. raised its stake in shares of Paylocity Holding Corp. by 94.2% in the first quarter. Pegasus Partners Ltd. now owns 18,550 shares of the company’s stock valued at $607,000 after buying an additional 9,000 shares during the last quarter. Institutional investors own 65.97% of the company’s stock.

Shares of Paylocity Holding Corp. (NASDAQ:PCTY) opened at 45.13 on Tuesday. The firm’s market capitalization is $2.31 billion. Paylocity Holding Corp. has a 1-year low of $24.00 and a 1-year high of $49.65. The firm has a 50-day moving average price of $43.92 and a 200-day moving average price of $40.45.

Paylocity Holding Corp. (NASDAQ:PCTY) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The company earned $59.80 million during the quarter, compared to analysts’ expectations of $57.64 million. Paylocity Holding Corp. had a negative net margin of 1.67% and a negative return on equity of 2.04%. The firm’s revenue for the quarter was up 49.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.03) EPS. On average, analysts forecast that Paylocity Holding Corp. will post $0.37 EPS for the current fiscal year.

About Paylocity Holding Corp.

Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (HCM), software solutions for medium-sized organizations. The Company’s solutions enable its clients to manage their workforce. Its multi-tenant software platform is configurable and includes a suite of payroll and HCM applications, such as time and labor tracking, benefits and talent management.

5 Day Chart for NASDAQ:PCTY

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