Paylocity Holding Corp (NASDAQ:PCTY) shares rose 5.1% during mid-day trading on Tuesday . The company traded as high as $94.87 and last traded at $94.48. Approximately 524,545 shares changed hands during trading, an increase of 77% from the average daily volume of 295,875 shares. The stock had previously closed at $89.87.

PCTY has been the subject of a number of research reports. Raymond James increased their price objective on Paylocity from $75.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, February 7th. SunTrust Banks increased their price objective on Paylocity to $83.00 and gave the stock a “positive” rating in a report on Tuesday, February 5th. Craig Hallum increased their price objective on Paylocity from $65.00 to $78.00 and gave the stock a “hold” rating in a report on Thursday, February 7th. Zacks Investment Research downgraded Paylocity from a “buy” rating to a “hold” rating in a report on Monday, February 18th. Finally, Jefferies Financial Group increased their price objective on Paylocity to $85.00 and gave the stock a “hold” rating in a report on Thursday, February 7th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Paylocity currently has an average rating of “Buy” and a consensus price target of $90.50.

The stock has a market cap of $5.31 billion, a P/E ratio of 304.77, a P/E/G ratio of 8.88 and a beta of 1.91.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, May 2nd. The software maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.41 by $0.19. Paylocity had a return on equity of 15.29% and a net margin of 9.52%. The firm had revenue of $139.60 million during the quarter, compared to analysts’ expectations of $135.97 million. During the same period in the prior year, the firm posted $0.71 earnings per share. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. On average, equities analysts predict that Paylocity Holding Corp will post 0.56 EPS for the current fiscal year.

In related news, COO Michael R. Haske sold 50,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $91.64, for a total transaction of $4,582,000.00. Following the completion of the transaction, the chief operating officer now directly owns 868,334 shares of the company’s stock, valued at $79,574,127.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven I. Sarowitz sold 166,489 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $95.53, for a total value of $15,904,694.17. Following the transaction, the director now directly owns 14,569,464 shares of the company’s stock, valued at $1,391,820,895.92. The disclosure for this sale can be found here. Insiders have sold 285,192 shares of company stock valued at $27,120,606 over the last three months. Insiders own 41.20% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in shares of Paylocity by 0.5% in the first quarter. AQR Capital Management LLC now owns 23,388 shares of the software maker’s stock valued at $2,086,000 after buying an additional 124 shares during the last quarter. FTB Advisors Inc. lifted its position in shares of Paylocity by 25.1% in the fourth quarter. FTB Advisors Inc. now owns 642 shares of the software maker’s stock valued at $38,000 after buying an additional 129 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Paylocity by 7.4% in the first quarter. Fifth Third Bancorp now owns 2,581 shares of the software maker’s stock valued at $230,000 after buying an additional 177 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its position in shares of Paylocity by 34.8% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 774 shares of the software maker’s stock valued at $47,000 after buying an additional 200 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Paylocity by 2.2% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,390 shares of the software maker’s stock valued at $837,000 after buying an additional 200 shares during the last quarter. 64.23% of the stock is owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/paylocity-pcty-stock-price-up-5-1/3031633.html.

Paylocity Company Profile (NASDAQ:PCTY)

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.

Further Reading: Understanding Price to Earnings Ratio (PE)

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.