Paylocity Holding Corp. (PCTY) Stock Rating Reaffirmed by Deutsche Bank AG
Paylocity Holding Corp. (NASDAQ:PCTY)‘s stock had its “buy” rating reaffirmed by investment analysts at Deutsche Bank AG in a report issued on Monday. They presently have a $55.00 target price on the stock. Deutsche Bank AG’s target price would indicate a potential upside of 62.87% from the stock’s current price.
PCTY has been the subject of several other reports. Zacks Investment Research raised Paylocity Holding Corp. from a “hold” rating to a “strong-buy” rating and set a $52.00 price objective for the company in a research note on Saturday, August 13th. Craig Hallum lowered Paylocity Holding Corp. from a “buy” rating to a “hold” rating in a research note on Friday, November 4th. Stifel Nicolaus raised their price objective on Paylocity Holding Corp. from $43.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th. JMP Securities raised their price objective on Paylocity Holding Corp. from $43.00 to $55.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 10th. Finally, Royal Bank Of Canada started coverage on Paylocity Holding Corp. in a research note on Friday, September 30th. They issued a “sector perform” rating and a $50.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $47.55.
Shares of Paylocity Holding Corp. (NASDAQ:PCTY) opened at 33.77 on Monday. Paylocity Holding Corp. has a 52 week low of $24.00 and a 52 week high of $49.65. The stock’s market capitalization is $1.73 billion. The company has a 50-day moving average price of $42.11 and a 200 day moving average price of $41.85.
Paylocity Holding Corp. (NASDAQ:PCTY) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. Paylocity Holding Corp. had a negative return on equity of 1.24% and a negative net margin of 1.19%. The company earned $65 million during the quarter, compared to analyst estimates of $63.58 million. During the same period in the prior year, the company earned $0.02 earnings per share. The firm’s revenue was up 44.1% on a year-over-year basis. Equities analysts forecast that Paylocity Holding Corp. will post $0.39 EPS for the current fiscal year.
In other Paylocity Holding Corp. news, CFO Peter J. Mcgrail sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $43.17, for a total transaction of $215,850.00. Following the transaction, the chief financial officer now directly owns 146,976 shares in the company, valued at approximately $6,344,953.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 53.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in Paylocity Holding Corp. by 68.2% in the second quarter. Legal & General Group Plc now owns 3,220 shares of the company’s stock valued at $134,000 after buying an additional 1,306 shares during the last quarter. Teacher Retirement System of Texas increased its position in 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 valued at $139,000 after buying an additional 728 shares during the last quarter. SG Americas Securities LLC purchased a new position in Paylocity Holding Corp. during the third quarter valued at approximately $156,000. Great West Life Assurance Co. Can increased its position in 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 valued at $162,000 after buying an additional 1,967 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new position in Paylocity Holding Corp. during the third quarter valued at approximately $206,000. Institutional investors own 64.78% of the company’s stock.
Paylocity Holding Corp. 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 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.
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