Shares of Paylocity Holding Corp (NASDAQ:PCTY) have been assigned a consensus rating of “Buy” from the nineteen ratings firms that are covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $139.87.
A number of brokerages have weighed in on PCTY. Jefferies Financial Group lifted their price objective on Paylocity from $110.00 to $135.00 and gave the company a “hold” rating in a report on Friday, August 7th. Royal Bank of Canada raised Paylocity from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $120.00 to $155.00 in a report on Thursday, June 18th. TheStreet downgraded shares of Paylocity from a “b” rating to a “c+” rating in a research report on Friday, August 7th. Needham & Company LLC lifted their price target on shares of Paylocity from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Zacks Investment Research upgraded shares of Paylocity from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Friday, July 31st.
PCTY traded up $0.73 during trading on Wednesday, reaching $146.95. The company’s stock had a trading volume of 8,535 shares, compared to its average volume of 535,285. Paylocity has a 52-week low of $66.98 and a 52-week high of $156.00. The company’s fifty day moving average price is $136.73 and its 200-day moving average price is $122.97. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 127.76, a price-to-earnings-growth ratio of 10.27 and a beta of 1.59. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.18 and a current ratio of 1.18.
Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, August 6th. The software maker reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.19. Paylocity had a return on equity of 18.18% and a net margin of 11.48%. The company had revenue of $130.60 million for the quarter, compared to analyst estimates of $126.55 million. During the same quarter in the previous year, the company earned $0.34 EPS. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities analysts predict that Paylocity will post 0.67 earnings per share for the current year.
In related news, SVP Edward W. Gaty sold 11,250 shares of Paylocity stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $149.30, for a total transaction of $1,679,625.00. Following the completion of the transaction, the senior vice president now directly owns 104,660 shares in the company, valued at approximately $15,625,738. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Andrew Cappotelli sold 2,111 shares of Paylocity stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $132.69, for a total value of $280,108.59. Following the transaction, the chief accounting officer now owns 9,993 shares of the company’s stock, valued at $1,325,971.17. The disclosure for this sale can be found here. Insiders have sold a total of 166,159 shares of company stock valued at $22,748,413 over the last 90 days. Insiders own 37.80% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Aperio Group LLC raised its holdings in Paylocity by 41.9% in the 1st quarter. Aperio Group LLC now owns 6,812 shares of the software maker’s stock valued at $602,000 after acquiring an additional 2,011 shares during the last quarter. Arizona State Retirement System acquired a new position in Paylocity in the 1st quarter valued at $721,000. New York State Common Retirement Fund raised its holdings in Paylocity by 21.8% in the 1st quarter. New York State Common Retirement Fund now owns 103,338 shares of the software maker’s stock valued at $9,127,000 after acquiring an additional 18,498 shares during the last quarter. Rhumbline Advisers raised its holdings in Paylocity by 10.5% in the 1st quarter. Rhumbline Advisers now owns 37,174 shares of the software maker’s stock valued at $3,283,000 after acquiring an additional 3,530 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Paylocity by 4.6% in the 1st quarter. Bank of New York Mellon Corp now owns 143,663 shares of the software maker’s stock valued at $12,688,000 after acquiring an additional 6,372 shares during the last quarter. Hedge funds and other institutional investors own 70.02% 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.
Recommended Story: History of the Euro STOXX 50 Index
Receive News & Ratings for Paylocity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paylocity and related companies with MarketBeat.com's FREE daily email newsletter.