Paylocity Holding Corp (NASDAQ:PCTY) has earned a consensus recommendation of “Buy” from the sixteen analysts that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $104.27.
PCTY has been the topic of a number of research analyst reports. SunTrust Banks increased their price target on Paylocity from $108.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Royal Bank of Canada restated a “neutral” rating on shares of Paylocity in a report on Sunday, August 11th. BidaskClub cut Paylocity from a “strong-buy” rating to a “buy” rating in a report on Thursday. KeyCorp increased their price target on Paylocity from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Cantor Fitzgerald initiated coverage on Paylocity in a report on Tuesday, June 18th. They set an “overweight” rating on the stock.
In related news, Director Steven I. Sarowitz sold 140,086 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $101.67, for a total value of $14,242,543.62. Following the completion of the sale, the director now directly owns 14,415,427 shares of the company’s stock, valued at approximately $1,465,616,463.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Michael R. Haske sold 50,000 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $91.64, for a total value of $4,582,000.00. Following the completion of the sale, the chief operating officer now directly owns 868,334 shares of the company’s stock, valued at $79,574,127.76. The disclosure for this sale can be found here. Insiders have sold 268,005 shares of company stock worth $26,555,756 over the last ninety days. 41.20% of the stock is owned by insiders.
NASDAQ PCTY traded up $4.80 during trading on Tuesday, hitting $104.17. 432,000 shares of the company’s stock were exchanged, compared to its average volume of 373,621. The company has a market cap of $5.27 billion, a PE ratio of 96.45, a P/E/G ratio of 4.67 and a beta of 1.69. Paylocity has a fifty-two week low of $53.46 and a fifty-two week high of $111.61. The stock’s 50 day moving average price is $102.40 and its two-hundred day moving average price is $93.70.
Paylocity (NASDAQ:PCTY) last issued its earnings results on Thursday, August 8th. The software maker reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.27. Paylocity had a return on equity of 18.19% and a net margin of 11.57%. The firm had revenue of $120.37 million during the quarter, compared to the consensus estimate of $117.51 million. During the same quarter in the previous year, the firm earned $0.11 earnings per share. The business’s quarterly revenue was up 24.6% on a year-over-year basis. On average, equities analysts predict that Paylocity will post 1.06 earnings per share for the current year.
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.
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