Shares of Paylocity Holding Corp. (NASDAQ:PCTY) traded down 2.3% on Thursday . The company traded as low as $43.51 and last traded at $43.73, with a volume of 94,977 shares. The stock had previously closed at $44.75.

A number of analysts recently weighed in on the stock. Robert W. Baird reaffirmed a “buy” rating on shares of Paylocity Holding Corp. in a report on Sunday, May 8th. Zacks Investment Research raised shares of Paylocity Holding Corp. from a “hold” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a report on Wednesday, May 11th. First Analysis lowered shares of Paylocity Holding Corp. from an “overweight” rating to an “equal weight” rating and set a $42.00 target price on the stock. in a report on Friday, July 8th. TheStreet raised shares of Paylocity Holding Corp. from a “sell” rating to a “hold” rating in a report on Friday, May 6th. Finally, Stifel Nicolaus decreased their target price on shares of Paylocity Holding Corp. from $47.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, May 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. Paylocity Holding Corp. has a consensus rating of “Buy” and an average target price of $44.00.

The stock’s market cap is $2.22 billion. The company’s 50 day moving average is $41.74 and its 200 day moving average is $35.30.

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

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

Several hedge funds recently modified their holdings of PCTY. Marshall Wace LLP raised its stake 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 worth $15,531,000 after buying an additional 19,999 shares in the last quarter. Garelick Capital Partners LP bought a new stake in shares of Paylocity Holding Corp. during the fourth quarter worth about $3,028,000. Turner Investments L.P. raised its stake 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 worth $1,419,000 after buying an additional 20,000 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of Paylocity Holding Corp. during the fourth quarter worth about $1,492,000. Finally, Sei Investments Co. raised its stake in shares of Paylocity Holding Corp. by 4,783.4% in the fourth quarter. Sei Investments Co. now owns 76,767 shares of the company’s stock worth $3,113,000 after buying an additional 75,195 shares in the last quarter.

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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