Paylocity Holding Corp Sees Large Increase in Short Interest (PCTY)
Shares of Paylocity Holding Corp (NASDAQ:PCTY) were the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 975,761 shares, a growth of 34.6% from the April 30th total of 724,727 shares, Analyst Ratings Network.com reports. Based on an average trading volume of 293,041 shares, the short-interest ratio is currently 3.3 days. Currently, 10.4% of the company’s shares are sold short.
A number of research firms have recently commented on PCTY. Analysts at Raymond James reiterated a “strong-buy” rating on shares of Paylocity Holding Corp in a research note on Friday, May 9th. They now have a $21.50 price target on the stock, down previously from $27.00. Separately, analysts at Bank of America upgraded shares of Paylocity Holding Corp from a “neutral” rating to a “buy” rating in a research note on Friday, May 9th. They now have a $21.00 price target on the stock, up previously from $20.00. Finally, analysts at William Blair initiated coverage on shares of Paylocity Holding Corp in a research note on Monday, April 14th. They set an “outperform” rating on the stock. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $22.58.
Shares of Paylocity Holding Corp (NASDAQ:PCTY) opened at 19.20 on Thursday. Paylocity Holding Corp has a 52-week low of $15.241 and a 52-week high of $31.00. The stock’s 50-day moving average is $18.35 and its 200-day moving average is $19.. The company’s market cap is $951.6 million.
Paylocity Holding Corp (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.04 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.06) by $0.10. The company had revenue of $33.80 million for the quarter, compared to the consensus estimate of $30.03 million. During the same quarter last year, the company posted $0.05 earnings per share. Paylocity Holding Corp’s revenue was up 40.8% compared to the same quarter last year. On average, analysts predict that Paylocity Holding Corp will post $-0.04 earnings per share for the current fiscal year.
Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (NASDAQ:PCTY), software solutions for medium-sized organizations.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.