Pacific Crest started coverage on shares of Paylocity Holding Corp. (NASDAQ:PCTY) in a report released on Monday. The firm issued a sector weight rating on the stock.

A number of other equities analysts have also weighed in on the stock. First Analysis lowered 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 report on Friday, July 8th. Deutsche Bank AG lifted their price target on shares of Paylocity Holding Corp. from $52.00 to $55.00 and gave the company a buy rating in a report on Wednesday, August 10th. Zacks Investment Research lowered shares of Paylocity Holding Corp. from a buy rating to a hold rating in a report on Saturday, July 30th. Stifel Nicolaus lifted their price target on shares of Paylocity Holding Corp. from $43.00 to $50.00 and gave the company a buy rating in a report on Wednesday, August 10th. Finally, JMP Securities lifted their price target on shares of Paylocity Holding Corp. from $43.00 to $55.00 and gave the company a market outperform rating in a report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and an average target price of $47.00.

Paylocity Holding Corp. (NASDAQ:PCTY) opened at 43.20 on Monday. The firm’s market cap is $2.21 billion. Paylocity Holding Corp. has a 1-year low of $24.00 and a 1-year high of $49.65. The firm has a 50-day moving average of $44.42 and a 200 day moving average of $39.49.

Paylocity Holding Corp. (NASDAQ:PCTY) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.03. The company had revenue of $59.80 million for the quarter, compared to analyst estimates of $57.64 million. Paylocity Holding Corp. had a negative net margin of 1.67% and a negative return on equity of 2.04%. Paylocity Holding Corp.’s revenue for the quarter was up 49.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.03) EPS. On average, analysts predict that Paylocity Holding Corp. will post $0.37 EPS for the current year.

In other news, VP Michael R. Haske sold 100,000 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $45.33, for a total value of $4,533,000.00. Following the completion of the sale, the vice president now owns 1,469,882 shares of the company’s stock, valued at approximately $66,629,751.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Peter J. Mcgrail sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $43.17, for a total transaction of $215,850.00. Following the completion of the sale, the chief financial officer now directly owns 146,976 shares of the company’s stock, valued at approximately $6,344,953.92. The disclosure for this sale can be found here. 60.80% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PCTY. Legal & General Group Plc raised its position in Paylocity Holding Corp. by 68.2% in the second quarter. Legal & General Group Plc now owns 3,220 shares of the company’s stock valued at $134,000 after buying an additional 1,306 shares during the period. Teacher Retirement System of Texas raised its position in Paylocity Holding Corp. by 29.1% in the second quarter. Teacher Retirement System of Texas now owns 3,227 shares of the company’s stock valued at $139,000 after buying an additional 728 shares during the period. BlackRock Group LTD raised its position in Paylocity Holding Corp. by 71.2% in the first quarter. BlackRock Group LTD now owns 6,565 shares of the company’s stock valued at $215,000 after buying an additional 2,730 shares during the period. US Bancorp DE acquired a new position in Paylocity Holding Corp. during the second quarter valued at approximately $216,000. Finally, Invictus RG raised its position in Paylocity Holding Corp. by 0.6% in the second quarter. Invictus RG now owns 5,042 shares of the company’s stock valued at $218,000 after buying an additional 31 shares during the period. 65.97% of the stock is owned by institutional investors and hedge funds.

Paylocity Holding Corp. Company Profile

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.

5 Day Chart for NASDAQ:PCTY

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