Pacific Crest started coverage on shares of Paylocity Holding Corp. (NASDAQ:PCTY) in a research report report published on Monday. The firm issued a sector weight rating on the stock.

Several other brokerages have also issued reports on PCTY. Zacks Investment Research lowered shares of Paylocity Holding Corp. from a strong-buy rating to a hold rating in a research note on Thursday, July 7th. JMP Securities raised their price objective on shares of 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. Stifel Nicolaus raised their price objective on shares of Paylocity Holding Corp. from $43.00 to $50.00 and gave the company a buy rating in a research note on Wednesday, August 10th. Deutsche Bank AG raised their price objective on shares of Paylocity Holding Corp. from $52.00 to $55.00 and gave the company a buy rating in a research note on Wednesday, August 10th. Finally, First Analysis lowered shares of Paylocity Holding Corp. from an overweight rating to an equal weight rating and set a $42.00 price objective for the company. in a research note on Friday, July 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Paylocity Holding Corp. has an average rating of Buy and an average price target of $47.00.

Paylocity Holding Corp. (NASDAQ:PCTY) opened at 41.47 on Monday. Paylocity Holding Corp. has a 12-month low of $24.00 and a 12-month high of $49.65. The company has a 50-day moving average of $44.54 and a 200 day moving average of $39.39. The firm’s market cap is $2.12 billion.

Paylocity Holding Corp. (NASDAQ:PCTY) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. The company earned $59.80 million during the quarter, compared to analyst estimates of $57.64 million. Paylocity Holding Corp. had a negative net margin of 1.67% and a negative return on equity of 2.04%. Paylocity Holding Corp.’s quarterly revenue was up 49.5% compared to the same quarter last year. During the same period last year, the business earned ($0.03) EPS. Equities analysts expect that Paylocity Holding Corp. will post $0.37 EPS for the current fiscal year.

In related news, CFO Peter J. Mcgrail sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $43.17, for a total value of $215,850.00. Following the transaction, the chief financial officer now owns 146,976 shares of the company’s stock, valued at $6,344,953.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael R. Haske sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $45.33, for a total transaction of $4,533,000.00. Following the completion of the transaction, the vice president now directly owns 1,469,882 shares in the company, valued at approximately $66,629,751.06. The disclosure for this sale can be found here. 60.80% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of PCTY. 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 worth $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 worth $139,000 after buying an additional 728 shares during the last quarter. BlackRock Group LTD increased its position in Paylocity Holding Corp. by 71.2% in the first quarter. BlackRock Group LTD now owns 6,565 shares of the company’s stock worth $215,000 after buying an additional 2,730 shares during the last quarter. US Bancorp DE acquired a new position in Paylocity Holding Corp. during the second quarter worth about $216,000. Finally, Invictus RG increased its position in Paylocity Holding Corp. by 0.6% in the second quarter. Invictus RG now owns 5,042 shares of the company’s stock worth $218,000 after buying an additional 31 shares during the last quarter. 65.97% of the stock is currently owned by institutional investors.

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.

5 Day Chart for NASDAQ:PCTY

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