Paylocity Holding Corporation (NASDAQ:PCTY)‘s stock had its “buy” rating reiterated by equities researchers at Northland Securities in a research note issued to investors on Sunday. They currently have a $55.00 price objective on the software maker’s stock. Northland Securities’ price objective would suggest a potential upside of 16.92% from the stock’s current price.

PCTY has been the topic of several other reports. Stifel Nicolaus restated a “buy” rating and set a $55.00 price target (up from $50.00) on shares of Paylocity Holding Corporation in a report on Friday, August 11th. Mizuho restated a “hold” rating and set a $45.00 price target on shares of Paylocity Holding Corporation in a report on Thursday, August 10th. ValuEngine upgraded shares of Paylocity Holding Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Royal Bank Of Canada boosted their price target on shares of Paylocity Holding Corporation from $47.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, May 25th. Finally, Raymond James Financial, Inc. set a $55.00 price objective on shares of Paylocity Holding Corporation and gave the company a “buy” rating in a research note on Wednesday, August 9th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Paylocity Holding Corporation has a consensus rating of “Hold” and an average target price of $51.46.

Paylocity Holding Corporation (PCTY) opened at 47.04 on Friday. The company has a 50 day moving average price of $46.33 and a 200 day moving average price of $43.07. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 392.00 and a beta of 2.25. Paylocity Holding Corporation has a 12 month low of $29.69 and a 12 month high of $49.65.

Paylocity Holding Corporation (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, August 10th. The software maker reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. Paylocity Holding Corporation had a net margin of 2.24% and a return on equity of 6.13%. The business had revenue of $76.10 million for the quarter, compared to analysts’ expectations of $73.79 million. During the same period in the previous year, the company posted ($0.01) EPS. Paylocity Holding Corporation’s revenue was up 27.3% on a year-over-year basis. Equities research analysts predict that Paylocity Holding Corporation will post $0.79 earnings per share for the current year.

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In other Paylocity Holding Corporation news, VP Michael R. Haske sold 88,600 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $45.21, for a total transaction of $4,005,606.00. Following the completion of the transaction, the vice president now owns 1,189,606 shares of the company’s stock, valued at approximately $53,782,087.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Edward W. Gaty sold 5,185 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $5,681,324.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,510,185 shares of company stock valued at $68,035,096. Company insiders own 53.10% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can lifted its position in Paylocity Holding Corporation by 1.2% during the 2nd quarter. Bank of Montreal Can now owns 3,419 shares of the software maker’s stock worth $154,000 after acquiring an additional 42 shares during the last quarter. Citigroup Inc. lifted its position in Paylocity Holding Corporation by 3.8% during the 2nd quarter. Citigroup Inc. now owns 11,366 shares of the software maker’s stock worth $514,000 after acquiring an additional 413 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in Paylocity Holding Corporation by 22.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,282 shares of the software maker’s stock worth $103,000 after acquiring an additional 421 shares during the last quarter. Sei Investments Co. lifted its position in Paylocity Holding Corporation by 0.4% during the 2nd quarter. Sei Investments Co. now owns 141,900 shares of the software maker’s stock worth $6,411,000 after acquiring an additional 529 shares during the last quarter. Finally, Bayesian Capital Management LP lifted its position in Paylocity Holding Corporation by 10.8% during the 2nd quarter. Bayesian Capital Management LP now owns 6,144 shares of the software maker’s stock worth $278,000 after acquiring an additional 600 shares during the last quarter. 60.87% of the stock is owned by hedge funds and other 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.

Analyst Recommendations for Paylocity Holding Corporation (NASDAQ:PCTY)

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