Paylocity (NASDAQ:PCTY) Given “Neutral” Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their neutral rating on shares of Paylocity (NASDAQ:PCTY) in a research report released on Sunday, AnalystRatings.com reports.

Other equities research analysts have also recently issued reports about the stock. Jefferies Financial Group raised their price objective on shares of Paylocity to $115.00 in a research report on Thursday. Stifel Nicolaus raised their price objective on shares of Paylocity from $105.00 to $125.00 and gave the stock a buy rating in a research report on Friday. JMP Securities raised their price objective on shares of Paylocity to $115.00 and gave the stock a market perform rating in a research report on Monday, July 22nd. KeyCorp raised their price objective on shares of Paylocity from $112.00 to $115.00 and gave the stock an overweight rating in a research report on Monday, July 29th. Finally, SunTrust Banks raised their price objective on shares of Paylocity from $108.00 to $125.00 and gave the stock a buy rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $103.58.

Paylocity stock traded down $4.50 during midday trading on Friday, hitting $106.16. 14,954 shares of the stock were exchanged, compared to its average volume of 319,582. Paylocity has a fifty-two week low of $53.46 and a fifty-two week high of $111.61. The firm has a market cap of $5.62 billion, a PE ratio of 98.29, a price-to-earnings-growth ratio of 5.62 and a beta of 1.69. The stock’s 50-day moving average price is $101.21.



Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, August 8th. The software maker reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.27. Paylocity had a net margin of 11.57% and a return on equity of 19.10%. The firm had revenue of $120.37 million during the quarter, compared to analysts’ expectations of $117.51 million. During the same period last year, the business earned $0.11 earnings per share. Paylocity’s revenue was up 24.6% compared to the same quarter last year. On average, analysts expect that Paylocity will post 0.9 EPS for the current fiscal year.

In other Paylocity news, CEO Steven R. Beauchamp sold 55,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $96.40, for a total transaction of $5,302,000.00. Following the completion of the transaction, the chief executive officer now owns 1,881,682 shares of the company’s stock, valued at $181,394,144.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Michael R. Haske sold 50,000 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $91.64, for a total transaction of $4,582,000.00. Following the transaction, the chief operating officer now directly owns 868,334 shares of the company’s stock, valued at approximately $79,574,127.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 117,768 shares of company stock valued at $11,126,741. 41.20% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Nordea Investment Management AB boosted its stake in shares of Paylocity by 1.6% in the first quarter. Nordea Investment Management AB now owns 61,542 shares of the software maker’s stock valued at $5,489,000 after purchasing an additional 954 shares during the period. O Shaughnessy Asset Management LLC purchased a new position in shares of Paylocity in the first quarter valued at approximately $61,000. Marshall Wace North America L.P. boosted its stake in shares of Paylocity by 35.6% in the first quarter. Marshall Wace North America L.P. now owns 64,456 shares of the software maker’s stock valued at $5,749,000 after purchasing an additional 16,908 shares during the period. Broadleaf Partners LLC boosted its stake in shares of Paylocity by 26.5% in the second quarter. Broadleaf Partners LLC now owns 38,275 shares of the software maker’s stock valued at $3,591,000 after purchasing an additional 8,023 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its stake in shares of Paylocity by 1.1% in the first quarter. Conestoga Capital Advisors LLC now owns 588,637 shares of the software maker’s stock valued at $52,501,000 after purchasing an additional 6,305 shares during the period. 64.22% of the stock is owned by institutional investors.

About Paylocity

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.

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Analyst Recommendations for Paylocity (NASDAQ:PCTY)

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