Shares of Paylocity Holding Corp (NASDAQ:PCTY) have earned a consensus recommendation of “Buy” from the eighteen brokerages that are presently covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $53.73.

A number of brokerages have recently issued reports on PCTY. TheStreet upgraded shares of Paylocity from a “c” rating to a “b-” rating in a research note on Friday, November 3rd. Zacks Investment Research upgraded shares of Paylocity from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Tuesday, January 2nd. Bank of America increased their price objective on shares of Paylocity from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, October 24th. BidaskClub upgraded shares of Paylocity from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Mizuho restated a “hold” rating and issued a $45.00 price objective on shares of Paylocity in a research note on Thursday, October 12th.

In other Paylocity news, SVP Edward W. Gaty sold 5,062 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $45.82, for a total transaction of $231,940.84. Following the sale, the senior vice president now owns 116,135 shares of the company’s stock, valued at approximately $5,321,305.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael R. Haske sold 15,300 shares of the stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $50.05, for a total transaction of $765,765.00. Following the sale, the insider now directly owns 1,190,221 shares in the company, valued at approximately $59,570,561.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,444,846 shares of company stock worth $66,981,241. 48.80% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of PCTY. Ameritas Investment Partners Inc. grew its holdings in Paylocity by 22.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,282 shares of the software maker’s stock worth $103,000 after acquiring an additional 421 shares during the last quarter. Nomura Holdings Inc. bought a new stake in Paylocity during the 2nd quarter worth about $208,000. GSA Capital Partners LLP bought a new stake in Paylocity during the 3rd quarter worth about $211,000. Fortaleza Asset Management Inc. bought a new stake in Paylocity during the 4th quarter worth about $255,000. Finally, Jane Street Group LLC bought a new stake in Paylocity during the 3rd quarter worth about $260,000. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

Paylocity (NASDAQ PCTY) traded down $1.92 during trading hours on Friday, reaching $44.01. 802,159 shares of the company traded hands, compared to its average volume of 238,784. The firm has a market cap of $2,529.74, a PE ratio of 244.50, a P/E/G ratio of 6.32 and a beta of 2.09. Paylocity has a 1 year low of $33.67 and a 1 year high of $53.96.

Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, February 8th. The software maker reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.04. The firm had revenue of $86.00 million during the quarter, compared to analysts’ expectations of $85.03 million. Paylocity had a net margin of 3.11% and a return on equity of 7.98%. The business’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 EPS. equities research analysts anticipate that Paylocity will post 0.33 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Paylocity Holding Corp (PCTY) Given Consensus Rating of “Buy” by Brokerages” was published by Watch List News and is the property of of Watch List News. If you are reading this news story on another publication, it was illegally copied and republished in violation of United States & international copyright law. The legal version of this news story can be viewed at https://www.watchlistnews.com/paylocity-holding-corp-pcty-given-consensus-rating-of-buy-by-brokerages/1855843.html.

Paylocity 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 services are provided in a software-as-a-service delivery model utilizing its cloud-based platform. The cloud-based platform provides a suite of applications using a multi-tenant architecture.

Analyst Recommendations for Paylocity (NASDAQ:PCTY)

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.