Shares of Paylocity Holding Corporation (NASDAQ:PCTY) have been given an average rating of “Hold” by the twenty analysts that are presently covering the firm, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $52.00.

A number of equities analysts have recently issued reports on PCTY shares. Zacks Investment Research upgraded Paylocity Holding Corporation from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Tuesday, July 18th. ValuEngine raised Paylocity Holding Corporation from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. JMP Securities reissued an “outperform” rating and issued a $54.00 price objective on shares of Paylocity Holding Corporation in a research note on Tuesday, July 18th. SunTrust Banks, Inc. began coverage on Paylocity Holding Corporation in a research note on Monday, June 26th. They issued a “hold” rating and a $45.00 price objective for the company. Finally, Northland Securities reissued a “buy” rating and issued a $55.00 price objective on shares of Paylocity Holding Corporation in a research note on Sunday, September 10th.

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In related news, VP Michael R. Haske sold 88,600 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $45.21, for a total value of $4,005,606.00. Following the transaction, the vice president now directly owns 1,189,606 shares of the company’s stock, valued at approximately $53,782,087.26. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven I. Sarowitz sold 200,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $44.81, for a total value of $8,962,000.00. Following the completion of the transaction, the director now directly owns 16,212,317 shares in the company, valued at $726,473,924.77. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,558,245 shares of company stock worth $70,449,866. Company insiders own 53.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can raised its holdings in Paylocity Holding Corporation by 29.2% during the first quarter. Bank of Montreal Can now owns 3,377 shares of the software maker’s stock valued at $130,000 after acquiring an additional 764 shares during the period. US Bancorp DE grew its position in shares of Paylocity Holding Corporation by 9.7% during the first quarter. US Bancorp DE now owns 9,859 shares of the software maker’s stock valued at $381,000 after purchasing an additional 875 shares in the last quarter. Swiss National Bank grew its position in shares of Paylocity Holding Corporation by 3.0% during the first quarter. Swiss National Bank now owns 38,250 shares of the software maker’s stock valued at $1,478,000 after purchasing an additional 1,100 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Paylocity Holding Corporation by 54.1% during the first quarter. Parametric Portfolio Associates LLC now owns 49,432 shares of the software maker’s stock valued at $1,910,000 after purchasing an additional 17,364 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Paylocity Holding Corporation by 14.0% during the first quarter. Envestnet Asset Management Inc. now owns 7,888 shares of the software maker’s stock valued at $305,000 after purchasing an additional 966 shares in the last quarter. 60.87% of the stock is currently owned by institutional investors.

Paylocity Holding Corporation (NASDAQ PCTY) traded down 0.40% on Friday, hitting $49.94. The company had a trading volume of 78,264 shares. The firm has a 50-day moving average price of $47.72 and a 200-day moving average price of $44.91. Paylocity Holding Corporation has a 12-month low of $29.69 and a 12-month high of $50.72. The firm has a market capitalization of $2.58 billion, a PE ratio of 416.17 and a beta of 2.23.

Paylocity Holding Corporation (NASDAQ:PCTY) last posted its earnings results on Thursday, August 10th. The software maker reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. The firm had revenue of $76.10 million during the quarter, compared to the consensus estimate of $73.79 million. Paylocity Holding Corporation had a return on equity of 6.13% and a net margin of 2.24%. The business’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period last year, the company earned ($0.01) earnings per share. On average, equities research analysts anticipate that Paylocity Holding Corporation will post $0.79 earnings per share for the current fiscal year.

About Paylocity Holding Corporation

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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