Paylocity Holding Corporation (NASDAQ:PCTY) had its price target increased by Robert W. Baird from $52.00 to $56.00 in a research report sent to investors on Friday, November 3rd. Robert W. Baird currently has an outperform rating on the software maker’s stock.
Several other research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Paylocity Holding Corporation from a hold rating to a buy rating and set a $53.00 target price for the company in a report on Tuesday, July 18th. ValuEngine raised shares of Paylocity Holding Corporation from a sell rating to a hold rating in a report on Friday, September 1st. JMP Securities reissued an outperform rating and set a $54.00 target price on shares of Paylocity Holding Corporation in a report on Tuesday, July 18th. Mizuho reissued a hold rating and set a $45.00 target price on shares of Paylocity Holding Corporation in a report on Thursday, October 12th. Finally, Bank of America Corporation lifted their price objective on shares of Paylocity Holding Corporation from $50.00 to $56.00 and gave the company a buy rating in a report on Tuesday, October 24th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $52.92.
Paylocity Holding Corporation (NASDAQ:PCTY) traded down $0.20 during midday trading on Friday, hitting $47.44. 323,800 shares of the company’s stock were exchanged, compared to its average volume of 291,142. The stock has a market capitalization of $2,501.90, a PE ratio of 216.54, a P/E/G ratio of 6.33 and a beta of 2.24. Paylocity Holding Corporation has a fifty-two week low of $29.69 and a fifty-two week high of $53.96.
Paylocity Holding Corporation (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, November 2nd. The software maker reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.17. The business had revenue of $81.50 million during the quarter, compared to analysts’ expectations of $80.88 million. Paylocity Holding Corporation had a net margin of 3.11% and a return on equity of 7.98%. The business’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter last year, the company posted $0.07 earnings per share. analysts expect that Paylocity Holding Corporation will post 0.32 earnings per share for the current year.
ILLEGAL ACTIVITY NOTICE: This piece of content was originally published by Week Herald and is owned by of Week Herald. If you are viewing this piece of content on another publication, it was copied illegally and republished in violation of United States & international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://weekherald.com/2017/11/14/paylocity-holding-corporation-pcty-price-target-increased-to-56-00-by-analysts-at-robert-w-baird.html.
In other Paylocity Holding Corporation news, insider Michael R. Haske sold 25,000 shares of Paylocity Holding Corporation stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $47.02, for a total transaction of $1,175,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Edward W. Gaty sold 5,185 shares of Paylocity Holding Corporation stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $48.92, for a total transaction of $253,650.20. Following the transaction, the senior vice president now directly owns 116,135 shares in the company, valued at $5,681,324.20. The disclosure for this sale can be found here. Insiders have sold 1,338,715 shares of company stock worth $60,743,412 over the last 90 days. 48.80% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new position in Paylocity Holding Corporation during the third quarter worth about $289,000. Granahan Investment Management Inc. MA raised its stake in shares of Paylocity Holding Corporation by 7.5% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 159,286 shares of the software maker’s stock valued at $7,776,000 after acquiring an additional 11,054 shares during the period. Jane Street Group LLC purchased a new stake in shares of Paylocity Holding Corporation in the 3rd quarter valued at approximately $260,000. Alyeska Investment Group L.P. raised its stake in shares of Paylocity Holding Corporation by 56.3% in the 3rd quarter. Alyeska Investment Group L.P. now owns 625,000 shares of the software maker’s stock valued at $30,513,000 after acquiring an additional 225,000 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in shares of Paylocity Holding Corporation by 57.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 12,144 shares of the software maker’s stock valued at $592,000 after acquiring an additional 4,418 shares during the period. 59.44% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Paylocity Holding Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paylocity Holding Corporation and related companies with MarketBeat.com's FREE daily email newsletter.