Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Paylocity (PCTY) Stock Price
Media stories about Paylocity (NASDAQ:PCTY) have been trending somewhat positive recently, according to Accern Sentiment. The research group identifies positive and negative news coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Paylocity earned a news impact score of 0.11 on Accern’s scale. Accern also gave press coverage about the software maker an impact score of 45.8271484444686 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the media headlines that may have impacted Accern Sentiment’s analysis:
- Paylocity Holding Corp (PCTY) Given Average Recommendation of “Buy” by Brokerages (americanbankingnews.com)
- Paylocity tops Street 2Q forecasts (finance.yahoo.com)
- Paylocity (PCTY) Posts Quarterly Earnings Results, Beats Estimates By $0.17 EPS (americanbankingnews.com)
- Paylocity (PCTY) Releases Q3 Earnings Guidance (americanbankingnews.com)
- Paylocity (PCTY) Updates FY18 Earnings Guidance (americanbankingnews.com)
Paylocity (PCTY) opened at $44.01 on Friday. Paylocity has a one year low of $33.67 and a one year high of $53.96. The firm has a market capitalization of $2,412.10, a PE ratio of 200.05, a price-to-earnings-growth ratio of 6.03 and a beta of 2.09.
Several equities analysts have weighed in on the company. BidaskClub lowered Paylocity from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. SunTrust Banks reissued a “hold” rating and issued a $47.00 target price on shares of Paylocity in a research note on Friday, November 3rd. Zacks Investment Research raised Paylocity from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research note on Tuesday, January 2nd. TheStreet raised Paylocity from a “c” rating to a “b-” rating in a research note on Friday, November 3rd. Finally, Bank of America increased their target price on Paylocity from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, October 24th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $52.92.
In other news, insider Michael R. Haske sold 15,300 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $50.05, for a total transaction of $765,765.00. Following the sale, the insider now owns 1,190,221 shares of the company’s stock, valued at $59,570,561.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Steven R. Beauchamp sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $46.63, for a total value of $2,331,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,444,846 shares of company stock worth $66,981,241. 48.80% of the stock is currently owned by insiders.
Paylocity 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.
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