Paylocity Holding Corp. (PCTY) Sees Large Volume Increase
Shares of Paylocity Holding Corp. (NASDAQ:PCTY) saw unusually-strong trading volume on Friday . Approximately 284,928 shares traded hands during mid-day 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.
A number of equities analysts have weighed in on PCTY shares. Zacks Investment Research raised shares of Paylocity Holding Corp. from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Thursday, April 21st. Robert W. Baird reaffirmed a “buy” rating on shares of Paylocity Holding Corp. in a research note on Sunday, May 8th. 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 note on Friday, May 6th. 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 note on Friday. Finally, TheStreet raised shares of Paylocity Holding Corp. from a “sell” rating to a “hold” rating in a research note on Friday, May 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $43.09.
The stock’s market capitalization is $2.23 billion. The stock’s 50-day moving average price is $39.92 and its 200 day moving average price is $35.07.
Paylocity Holding Corp. (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.07. The firm had revenue of $70.57 million for the quarter, compared to analyst estimates of $67.26 million. During the same quarter in the previous year, the company earned $0.11 earnings per share. The company’s quarterly revenue was up 49.3% on a year-over-year basis. On average, equities analysts forecast that Paylocity Holding Corp. will post $0.27 EPS for the current year.
In other Paylocity Holding Corp. news, VP Michael R. Haske sold 60,000 shares of the stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $38.93, for a total transaction of $2,335,800.00. Following the sale, the vice president now directly owns 1,458,982 shares in the company, valued at $56,798,169.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Peter J. Mcgrail sold 5,000 shares of the stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $35.90, for a total transaction of $179,500.00. Following the sale, the chief financial officer now owns 87,050 shares in the company, valued at $3,125,095. The disclosure for this sale can be found here.
Several large investors recently bought and sold shares of the stock. California State Teachers Retirement System increased its stake in Paylocity Holding Corp. by 1.4% in the fourth quarter. California State Teachers Retirement System now owns 28,680 shares of the company’s stock worth $1,163,000 after buying an additional 400 shares during the last quarter. Turner Investments L.P. increased its stake in Paylocity Holding Corp. by 133.3% in the fourth quarter. Turner Investments L.P. now owns 35,000 shares of the company’s stock worth $1,419,000 after buying an additional 20,000 shares during the last quarter. First Trust Advisors LP bought a new stake in Paylocity Holding Corp. during the fourth quarter worth $1,492,000. EAM Investors LLC bought a new stake in Paylocity Holding Corp. during the fourth quarter worth $2,769,000. Finally, Garelick Capital Partners LP bought a new stake in Paylocity Holding Corp. during the fourth quarter worth $3,028,000.
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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