Paylocity Holding Corp. (NASDAQ:PCTY) saw unusually-high trading volume on Friday . Approximately 284,928 shares traded hands during trading, a decline of 19% from the previous session’s volume of 352,633 shares.The stock last traded at $43.58 and had previously closed at $42.83.

PCTY has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Paylocity Holding Corp. from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Thursday, April 21st. TheStreet raised shares of Paylocity Holding Corp. from a “sell” rating to a “hold” rating in a research report on Friday, May 6th. Stifel Nicolaus dropped their target price on shares of Paylocity Holding Corp. from $47.00 to $43.00 and set a “buy” rating for the company in a research report on Friday, May 6th. Robert W. Baird reissued a “buy” rating on shares of Paylocity Holding Corp. in a research report on Sunday, May 8th. Finally, First Analysis downgraded shares of Paylocity Holding Corp. from an “overweight” rating to an “equal weight” rating and set a $42.00 target price for the company. in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $43.09.

The stock’s 50 day moving average price is $39.66 and its 200-day moving average price is $35.03. The stock’s market cap is $2.23 billion.

Paylocity Holding Corp. (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.07. During the same period in the prior year, the company earned $0.11 earnings per share. The firm had revenue of $70.57 million for the quarter, compared to analyst estimates of $67.26 million. The firm’s quarterly revenue was up 49.3% on a year-over-year basis. On average, equities analysts predict that Paylocity Holding Corp. will post $0.27 EPS for the current year.

In related news, VP Michael R. Haske sold 28,776 shares of the stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $35.24, for a total transaction of $1,014,066.24. Following the completion of the transaction, the vice president now directly owns 1,510,635 shares of the company’s stock, valued at $53,234,777.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven R. Beauchamp sold 40,000 shares of the stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $34.79, for a total value of $1,391,600.00. Following the transaction, the chief executive officer now directly owns 2,447,672 shares of the company’s stock, valued at $85,154,508.88. The disclosure for this sale can be found here.

Other hedge funds and institutional investors recently modified their holdings of the company. Marshall Wace LLP boosted its position in shares of Paylocity Holding Corp. by 5.5% in the fourth quarter. Marshall Wace LLP now owns 382,997 shares of the company’s stock valued at $15,531,000 after buying an additional 19,999 shares during the period. Garelick Capital Partners LP bought a new position in shares of Paylocity Holding Corp. during the fourth quarter valued at approximately $3,028,000. Turner Investments L.P. boosted its position in shares of Paylocity Holding Corp. by 133.3% in the fourth quarter. Turner Investments L.P. now owns 35,000 shares of the company’s stock valued at $1,419,000 after buying an additional 20,000 shares during the period. EAM Investors LLC bought a new position in shares of Paylocity Holding Corp. during the fourth quarter valued at approximately $2,769,000. Finally, Kornitzer Capital Management Inc. KS boosted its position in shares of Paylocity Holding Corp. by 37.4% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 446,084 shares of the company’s stock valued at $18,089,000 after buying an additional 121,499 shares during the period.

Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (HCM), software solutions for medium-sized organizations. The Company’s solutions enable its clients to manage their workforce. Its multi-tenant software platform is configurable and includes a suite of payroll and HCM applications, such as time and labor tracking, benefits and talent management.

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