Shares of Paylocity Holding Corp. (NASDAQ:PCTY) hit a new 52-week high during trading on Friday . The company traded as high as $47.37 and last traded at $47.23, with a volume of 120,055 shares changing hands. The stock had previously closed at $46.33.

PCTY has been the topic of a number of research reports. First Analysis cut 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 upgraded shares of Paylocity Holding Corp. from a “sell” rating to a “hold” rating in a report on Friday, May 6th. Zacks Investment Research cut shares of Paylocity Holding Corp. from a “buy” rating to a “hold” rating in a report on Saturday, July 30th. Stifel Nicolaus dropped 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. Finally, Robert W. Baird restated a “buy” rating on shares of Paylocity Holding Corp. in a report on Sunday, May 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $44.00.

The firm has a 50-day moving average price of $43.59 and a 200 day moving average price of $36.09. The firm’s market capitalization is $2.41 billion.

Paylocity Holding Corp. (NASDAQ:PCTY) last released its earnings results on Thursday, May 5th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.07. During the same quarter in the previous year, the business earned $0.11 EPS. The business earned $70.57 million during the quarter, compared to analysts’ expectations of $67.26 million. The business’s revenue for the quarter was up 49.3% on a year-over-year basis. On average, equities research analysts forecast that Paylocity Holding Corp. will post $0.27 earnings per share for the current year.

In other Paylocity Holding Corp. news, CEO Steven R. Beauchamp sold 20,000 shares of the stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $40.01, for a total value of $800,200.00. Following the sale, the chief executive officer now owns 2,387,672 shares in the company, valued at $95,530,756.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Michael R. Haske sold 28,776 shares of the stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $35.24, for a total value of $1,014,066.24. Following the completion of 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.

A hedge fund recently raised its stake in Paylocity Holding Corp. stock. Marshall Wace LLP boosted its stake in shares of Paylocity Holding Corp. (NASDAQ:PCTY) by 5.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 382,997 shares of the company’s stock after buying an additional 19,999 shares during the period. Marshall Wace LLP owned 0.75% of Paylocity Holding Corp. worth $15,531,000 as of its most recent SEC filing.

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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