Paylocity Holding Corp (PCTY) Given Consensus Rating of “Buy” by Brokerages
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.
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.
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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.
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