Somewhat Positive Press Coverage Somewhat Unlikely to Impact Paylocity Holding Corporation (PCTY) Share Price
News headlines about Paylocity Holding Corporation (NASDAQ:PCTY) have been trending somewhat positive recently, Accern reports. The research group scores the sentiment of media coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Paylocity Holding Corporation earned a media sentiment score of 0.18 on Accern’s scale. Accern also assigned media coverage about the software maker an impact score of 45.2700205948993 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
PCTY has been the subject of several recent analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $55.00 target price (up from $50.00) on shares of Paylocity Holding Corporation in a research note on Friday, August 11th. ValuEngine raised shares of Paylocity Holding Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research raised shares of Paylocity Holding Corporation from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Tuesday, July 18th. Bank of America Corporation reiterated a “buy” rating and issued a $47.00 price target (down previously from $50.00) on shares of Paylocity Holding Corporation in a report on Friday, August 11th. Finally, Northland Securities reiterated a “buy” rating and issued a $55.00 price target on shares of Paylocity Holding Corporation in a report on Sunday, September 10th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $51.46.
Paylocity Holding Corporation (NASDAQ:PCTY) opened at 46.87 on Friday. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 390.58 and a beta of 2.25. The company’s 50 day moving average is $46.29 and its 200 day moving average is $43.44. Paylocity Holding Corporation has a 12-month low of $29.69 and a 12-month high of $49.65.
Paylocity Holding Corporation (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, August 10th. The software maker reported ($0.06) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.04. Paylocity Holding Corporation had a net margin of 2.24% and a return on equity of 6.13%. The firm had revenue of $76.10 million for the quarter, compared to analyst estimates of $73.79 million. During the same quarter in the prior year, the business earned ($0.01) EPS. The company’s revenue for the quarter was up 27.3% compared to the same quarter last year. On average, equities analysts anticipate that Paylocity Holding Corporation will post $0.79 earnings per share for the current year.
In other news, VP Michael R. Haske sold 88,600 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $45.21, for a total transaction of $4,005,606.00. Following the transaction, the vice president now owns 1,189,606 shares in the company, valued at approximately $53,782,087.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven I. Sarowitz sold 200,000 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $44.81, for a total transaction of $8,962,000.00. Following the transaction, the director now owns 16,212,317 shares in the company, valued at approximately $726,473,924.77. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,510,185 shares of company stock worth $68,035,096. 53.10% of the stock is currently owned by company insiders.
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About Paylocity Holding Corporation
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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