Paylocity Holding Corp. (PCTY) Shares Down 1.4%
Paylocity Holding Corp. (NASDAQ:PCTY) shares fell 1.4% during trading on Monday . The company traded as low as $44.73 and last traded at $44.79, with a volume of 95,860 shares changing hands. The stock had previously closed at $45.44.
A number of research firms recently commented on PCTY. Zacks Investment Research upgraded Paylocity Holding Corp. from a “hold” rating to a “strong-buy” rating and set a $52.00 price objective on the stock in a report on Saturday, August 13th. JMP Securities upped their price objective on Paylocity Holding Corp. from $43.00 to $55.00 and gave the company a “market outperform” rating in a report on Wednesday, August 10th. Deutsche Bank AG upped their price objective on Paylocity Holding Corp. from $52.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, August 10th. Stifel Nicolaus upped their price target on Paylocity Holding Corp. from $43.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Finally, First Analysis cut 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 assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $47.00.
The company’s market cap is $2.28 billion. The stock’s 50 day moving average is $44.85 and its 200 day moving average is $37.85.
Paylocity Holding Corp. (NASDAQ:PCTY) last issued its earnings results on Tuesday, August 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. During the same quarter last year, the company posted ($0.03) EPS. The company earned $59.80 million during the quarter, compared to analyst estimates of $57.64 million. The business’s revenue for the quarter was up 49.5% compared to the same quarter last year. On average, equities analysts anticipate that Paylocity Holding Corp. will post $0.37 EPS for the current year.
In other news, CEO Steven R. Beauchamp sold 20,000 shares of the company’s stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $38.13, for a total value of $762,600.00. Following the sale, the chief executive officer now owns 2,407,672 shares in the company, valued at approximately $91,804,533.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Steven R. Beauchamp sold 100,000 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $45.52, for a total transaction of $4,552,000.00. Following the completion of the sale, the insider now owns 2,283,072 shares in the company, valued at approximately $103,925,437.44. The disclosure for this sale can be found here.
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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