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Paylocity Holding Corp (NASDAQ:PCTY) saw unusually-high trading volume on Friday following a better than expected earnings announcement, AnalystRatings.Net reports. Approximately 467,785 shares changed hands during trading, an increase of 261% from the previous session’s volume of 129,583 shares.The stock last traded at $23.54 and had previously closed at $22.17.

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.

Several analysts have recently commented on the stock. 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 reiterated a “strong-buy” rating on shares of Paylocity Holding Corp in a research note on Friday. They now have a $28.50 price target on the stock, up previously from $21.50. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Paylocity Holding Corp presently has an average rating of “Buy” and a consensus price target of $25.50.

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 $1.159 billion.

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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