Paylocity Holding Corp. (NASDAQ:PCTY) has received a consensus rating of “Hold” from the thirteen analysts that are presently covering the firm. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $48.89.

Several research firms recently issued reports on PCTY. Zacks Investment Research raised shares of Paylocity Holding Corp. from a “hold” rating to a “strong-buy” rating and set a $52.00 price target for the company in a report on Saturday, August 13th. Deutsche Bank AG reissued a “buy” rating and set a $55.00 price target on shares of Paylocity Holding Corp. in a report on Friday, November 4th. Craig Hallum cut shares of Paylocity Holding Corp. from a “buy” rating to a “hold” rating in a report on Friday, November 4th. Stifel Nicolaus increased their price target on shares of Paylocity Holding Corp. from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, August 10th. Finally, JMP Securities increased their price target on shares of Paylocity Holding Corp. from $43.00 to $55.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 10th.

In other Paylocity Holding Corp. news, CFO Peter J. Mcgrail sold 5,000 shares of Paylocity Holding Corp. stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $43.17, for a total value of $215,850.00. Following the transaction, the chief financial officer now owns 146,976 shares in the company, valued at approximately $6,344,953.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Michael R. Haske sold 100,000 shares of Paylocity Holding Corp. stock in a transaction on Monday, August 15th. The shares were sold at an average price of $45.33, for a total transaction of $4,533,000.00. Following the completion of the transaction, the vice president now owns 1,469,882 shares in the company, valued at approximately $66,629,751.06. The disclosure for this sale can be found here. Insiders own 53.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc increased its position in shares of Paylocity Holding Corp. by 68.2% in the second quarter. Legal & General Group Plc now owns 3,220 shares of the company’s stock worth $134,000 after buying an additional 1,306 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Paylocity Holding Corp. by 29.1% in the second quarter. Teacher Retirement System of Texas now owns 3,227 shares of the company’s stock worth $139,000 after buying an additional 728 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Paylocity Holding Corp. during the third quarter worth approximately $156,000. Great West Life Assurance Co. Can increased its position in shares of Paylocity Holding Corp. by 116.8% in the third quarter. Great West Life Assurance Co. Can now owns 3,651 shares of the company’s stock worth $162,000 after buying an additional 1,967 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new position in shares of Paylocity Holding Corp. during the third quarter worth approximately $206,000. Institutional investors own 65.84% of the company’s stock.

Paylocity Holding Corp. (NASDAQ:PCTY) opened at 33.50 on Tuesday. Paylocity Holding Corp. has a one year low of $24.00 and a one year high of $49.65. The firm’s market capitalization is $1.72 billion. The stock’s 50 day moving average price is $42.67 and its 200 day moving average price is $41.87.

Paylocity Holding Corp. (NASDAQ:PCTY) last announced its earnings results on Thursday, November 3rd. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.04. Paylocity Holding Corp. had a negative net margin of 1.19% and a negative return on equity of 1.24%. The business earned $65 million during the quarter, compared to the consensus estimate of $63.58 million. During the same quarter in the prior year, the firm earned $0.02 earnings per share. The business’s quarterly revenue was up 44.1% compared to the same quarter last year. Analysts expect that Paylocity Holding Corp. will post $0.38 EPS for the current 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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