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

PCTY has been the topic of several research analyst reports. Zacks Investment Research raised shares of Paylocity Holding Corp. from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Thursday, April 21st. TheStreet raised shares of Paylocity Holding Corp. from a “sell” rating to a “hold” rating in a research note on Friday, May 6th. Stifel Nicolaus decreased their price target on shares of Paylocity Holding Corp. from $47.00 to $43.00 and set a “buy” rating on the stock in a research note on Friday, May 6th. Robert W. Baird reissued a “buy” rating on shares of Paylocity Holding Corp. in a research note on Sunday, May 8th. Finally, First Analysis cut shares of Paylocity Holding Corp. from an “overweight” rating to an “equal weight” rating and set a $42.00 price target on the stock. in a research note on Friday, July 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $44.00.

The firm has a 50-day moving average price of $42.08 and a 200 day moving average price of $35.40. The stock’s market cap is $2.26 billion.

Paylocity Holding Corp. (NASDAQ:PCTY) last issued its earnings results on Thursday, May 5th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.14 by $0.07. During the same quarter in the previous year, the firm posted $0.11 earnings per share. The firm earned $70.57 million during the quarter, compared to analyst estimates of $67.26 million. Paylocity Holding Corp.’s quarterly revenue was up 49.3% compared to the same quarter last year. Equities analysts anticipate that Paylocity Holding Corp. will post $0.27 EPS for the current year.

In related news, CEO Steven R. Beauchamp sold 9,791 shares of the company’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $36.06, for a total transaction of $353,063.46. Following the completion of the transaction, the chief executive officer now directly owns 2,438,281 shares in the company, valued at approximately $87,924,412.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Steven R. Beauchamp sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $34.79, for a total transaction of $1,391,600.00. Following the transaction, the chief executive officer now 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 institutional investors recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its position in 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 acquired a new position in shares of Paylocity Holding Corp. during the fourth quarter valued at about $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. First Trust Advisors LP acquired a new position in shares of Paylocity Holding Corp. during the fourth quarter valued at about $1,492,000. Finally, Sei Investments Co. boosted its position 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 valued at $3,113,000 after buying an additional 75,195 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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