Paylocity Holding Corp. (PCTY) Hits New 1-Year High at $47.37
Paylocity Holding Corp. (NASDAQ:PCTY)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $47.37 and last traded at $47.23, with a volume of 120,055 shares traded. The stock had previously closed at $46.33.
A number of equities analysts have issued reports on PCTY shares. Robert W. Baird reaffirmed a “buy” rating on shares of Paylocity Holding Corp. in a report on Sunday, May 8th. Zacks Investment Research raised Paylocity Holding Corp. from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Thursday, April 21st. Stifel Nicolaus lowered their target price on Paylocity Holding Corp. from $47.00 to $43.00 and set a “buy” rating for the company in a report on Friday, May 6th. First Analysis cut Paylocity Holding Corp. from an “overweight” rating to an “equal weight” rating and set a $42.00 target price for the company. in a report on Friday, July 8th. Finally, TheStreet raised Paylocity Holding Corp. from a “sell” rating to a “hold” rating in a report on Friday, May 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $44.00.
The company’s 50 day moving average is $43.40 and its 200 day moving average is $36.01. The firm’s market cap is $2.41 billion.
Paylocity Holding Corp. (NASDAQ:PCTY) last issued its earnings results 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 earned $70.57 million during the quarter, compared to analyst estimates of $67.26 million. Paylocity Holding Corp.’s revenue for the quarter was up 49.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.11 EPS. Equities research analysts forecast that Paylocity Holding Corp. will post $0.27 earnings per share for the current year.
In related news, CFO Peter J. Mcgrail sold 5,000 shares of the company’s 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 approximately $3,125,095. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Michael R. Haske sold 28,776 shares of the company’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $35.24, for a total value of $1,014,066.24. Following the sale, the vice president now owns 1,510,635 shares in the company, valued at approximately $53,234,777.40. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently made changes to their positions in the company. Marshall Wace LLP raised 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 last quarter. Garelick Capital Partners LP purchased a new position in shares of Paylocity Holding Corp. during the fourth quarter valued at about $3,028,000. First Trust Advisors LP purchased a new position in shares of Paylocity Holding Corp. during the fourth quarter valued at about $1,492,000. Finally, California State Teachers Retirement System raised its position in shares of 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 valued at $1,163,000 after buying an additional 400 shares during 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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