Paylocity Holding Corporation (NASDAQ:PCTY)‘s stock had its “hold” rating reissued by stock analysts at Mizuho in a report released on Thursday. They presently have a $45.00 price target on the software maker’s stock. Mizuho’s target price would suggest a potential upside of 0.72% from the company’s current price.

The analysts wrote, “We expect F4Q17 total revenue of $74-75mm (+24-25% Y/Y) vs. guidance of $73.1-74.1mm and consensus of $74mm. Recurring revenues could print around $72-73mm (up 26-28% Y/Y). For profitability, we expect adj. EBITDA of $6-7mm vs. guidance of $5.3-6.3mm and consensus of $6mm. Lastly, EPS could come in around $0.02-0.03 vs. guidance of $0.00-0.02 and consensus of $0.01.””

Several other equities analysts have also weighed in on the stock. Deutsche Bank AG upped their price objective on shares of Paylocity Holding Corporation from $55.00 to $60.00 and gave the company a “buy” rating in a report on Monday, May 15th. Wells Fargo & Company started coverage on shares of Paylocity Holding Corporation in a report on Thursday, May 11th. They set a “market perform” rating and a $44.00 price objective on the stock. Zacks Investment Research upgraded shares of Paylocity Holding Corporation from a “hold” rating to a “strong-buy” rating and set a $50.00 price objective on the stock in a report on Wednesday, May 10th. ValuEngine upgraded shares of Paylocity Holding Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Pacific Crest reiterated a “hold” rating on shares of Paylocity Holding Corporation in a report on Thursday, May 4th. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $50.17.

Paylocity Holding Corporation (NASDAQ:PCTY) traded down 3.07% during trading on Thursday, reaching $43.31. The company’s stock had a trading volume of 224,390 shares. Paylocity Holding Corporation has a 12 month low of $29.69 and a 12 month high of $49.65. The stock’s 50-day moving average is $46.00 and its 200 day moving average is $41.14. The company has a market cap of $2.23 billion, a P/E ratio of 433.10 and a beta of 2.26.

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In other Paylocity Holding Corporation news, Director Steven I. Sarowitz sold 172,699 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $44.37, for a total value of $7,662,654.63. Following the completion of the sale, the director now directly owns 16,337,902 shares of the company’s stock, valued at approximately $724,912,711.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Peter J. Mcgrail sold 49,764 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $47.27, for a total transaction of $2,352,344.28. Following the completion of the sale, the chief financial officer now directly owns 227,475 shares of the company’s stock, valued at $10,752,743.25. The disclosure for this sale can be found here. Insiders sold a total of 355,021 shares of company stock worth $15,942,057 in the last 90 days. 53.10% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its stake in shares of Paylocity Holding Corporation by 562.6% in the second quarter. BNP Paribas Arbitrage SA now owns 3,293 shares of the software maker’s stock worth $149,000 after buying an additional 2,796 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Paylocity Holding Corporation by 29.2% in the first quarter. Bank of Montreal Can now owns 3,377 shares of the software maker’s stock worth $130,000 after buying an additional 764 shares during the last quarter. Turner Investments LLC purchased a new stake in shares of Paylocity Holding Corporation during the second quarter worth about $158,000. Invictus RG purchased a new stake in shares of Paylocity Holding Corporation during the first quarter worth about $198,000. Finally, Independent Portfolio Consultants Inc. increased its stake in shares of Paylocity Holding Corporation by 38.0% in the first quarter. Independent Portfolio Consultants Inc. now owns 6,005 shares of the software maker’s stock worth $232,000 after buying an additional 1,655 shares during the last quarter. 63.54% of the stock is owned by institutional investors and hedge funds.

Paylocity Holding Corporation 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 services are provided in a software-as-a-service delivery model utilizing its cloud-based platform. The cloud-based platform provides a suite of applications using a multi-tenant architecture.

Analyst Recommendations for Paylocity Holding Corporation (NASDAQ:PCTY)

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