Paylocity Holding Corporation (NASDAQ:PCTY) updated its first quarter earnings guidance on Thursday. The company provided EPS guidance of $0.10-0.12 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.10. The company issued revenue guidance of $80.3-81.3 million, compared to the consensus revenue estimate of $80.66 million.Paylocity Holding Corporation also updated its FY18 guidance to $0.78-0.80 EPS.

A number of research firms recently issued reports on PCTY. Raymond James Financial, Inc. set a $55.00 target price on Paylocity Holding Corporation and gave the company a buy rating in a report on Wednesday. Mizuho reiterated a hold rating and issued a $45.00 target price on shares of Paylocity Holding Corporation in a report on Thursday. Deutsche Bank AG lifted their target price on Paylocity Holding Corporation from $55.00 to $60.00 and gave the company a buy rating in a report on Monday, May 15th. Zacks Investment Research upgraded Paylocity Holding Corporation from a hold rating to a strong-buy rating and set a $50.00 target price for the company in a report on Wednesday, May 10th. Finally, Needham & Company LLC reiterated a buy rating and issued a $46.00 target price (up from $40.00) on shares of Paylocity Holding Corporation in a report on Friday, May 5th. Ten equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $50.17.

Paylocity Holding Corporation (NASDAQ PCTY) traded down 2.98% during mid-day trading on Thursday, reaching $43.35. The company’s stock had a trading volume of 290,971 shares. The stock has a market capitalization of $2.23 billion, a P/E ratio of 433.50 and a beta of 2.26. Paylocity Holding Corporation has a 1-year low of $29.69 and a 1-year high of $49.65. The stock’s 50 day moving average price is $46.00 and its 200 day moving average price is $41.14.

In related news, CFO Peter J. Mcgrail sold 49,764 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $47.27, for a total transaction of $2,352,344.28. Following the sale, the chief financial officer now owns 227,475 shares in the company, valued at $10,752,743.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven I. Sarowitz sold 172,699 shares of the stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $44.37, for a total transaction of $7,662,654.63. Following the sale, the director now owns 16,337,902 shares in the company, valued at approximately $724,912,711.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 355,021 shares of company stock worth $15,942,057. 53.10% of the stock is owned by company insiders.

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Paylocity Holding Corporation 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.

Earnings History and Estimates for Paylocity Holding Corporation (NASDAQ:PCTY)

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