Brokerages Set Paylocity Holding Corp (PCTY) Target Price at $78.69
Shares of Paylocity Holding Corp (NASDAQ:PCTY) have been assigned a consensus recommendation of “Buy” from the seventeen brokerages that are presently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $78.69.
A number of research analysts have weighed in on PCTY shares. Bank of America raised their target price on shares of Paylocity from $80.00 to $89.00 and gave the stock a “buy” rating in a research note on Thursday, February 7th. Stifel Nicolaus raised their target price on shares of Paylocity from $78.00 to $91.00 and gave the stock a “buy” rating in a research note on Thursday, February 7th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price (up from $80.00) on shares of Paylocity in a research note on Thursday, February 7th. Zacks Investment Research raised shares of Paylocity from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Friday, February 15th. Finally, ValuEngine lowered shares of Paylocity from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th.
In other news, CEO Steven R. Beauchamp sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $83.69, for a total transaction of $3,347,600.00. Following the completion of the sale, the chief executive officer now owns 1,885,948 shares in the company, valued at approximately $157,834,988.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Edward W. Gaty sold 11,281 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $87.00, for a total transaction of $981,447.00. The disclosure for this sale can be found here. Insiders have sold a total of 882,481 shares of company stock valued at $75,511,619 in the last 90 days. Insiders own 41.20% of the company’s stock.
PCTY traded up $1.43 during trading on Wednesday, reaching $89.34. The company’s stock had a trading volume of 8,061 shares, compared to its average volume of 271,885. Paylocity has a 1 year low of $51.18 and a 1 year high of $92.50. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 288.50, a price-to-earnings-growth ratio of 8.00 and a beta of 2.09.
Paylocity (NASDAQ:PCTY) last released its earnings results on Wednesday, February 6th. The software maker reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.11). Paylocity had a return on equity of 13.43% and a net margin of 12.81%. The business had revenue of $107.20 million during the quarter, compared to analysts’ expectations of $104.68 million. During the same period last year, the business earned $0.16 earnings per share. The company’s revenue for the quarter was up 24.7% compared to the same quarter last year. On average, sell-side analysts forecast that Paylocity will post 0.54 EPS 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.
Recommended Story: Penny Stocks
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.