Paylocity Holding Corp PT Raised to $28.00 (PCTY)
Research analysts at Needham & Company LLC lifted their price objective on shares of Paylocity Holding Corp (NASDAQ:PCTY) from $23.00 to $28.00 in a report released on Friday. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 26.30% from the company’s current price.
A number of other firms have also recently commented on PCTY. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Paylocity Holding Corp in a research note on Friday. They now have a $27.00 price target on the stock, up previously from $25.00. Separately, analysts at JMP Securities reiterated a “market outperform” rating on shares of Paylocity Holding Corp in a research note on Friday. They now have a $28.00 price target on the stock, up previously from $25.00. Finally, analysts at Raymond James raised their price target on shares of Paylocity Holding Corp from $21.50 to $28.50 in a research note on Friday. They now have a “strong-buy” rating on the stock. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $26.50.
Paylocity Holding Corp (NASDAQ:PCTY) traded up 9.88% during mid-day trading on Friday, hitting $24.36. The stock had a trading volume of 706,000 shares. Paylocity Holding Corp has a 1-year low of $15.241 and a 1-year high of $31.00. The stock’s 50-day moving average is $20.80 and its 200-day moving average is $20.4. The company’s market cap is $1.207 billion.
Paylocity Holding Corp (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.03) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.05) by $0.02. The company had revenue of $28.60 million for the quarter, compared to the consensus estimate of $26.71 million. 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.
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