Paylocity Holding Corporation (PCTY) Earns “Hold” Rating from Mizuho
Paylocity Holding Corporation (NASDAQ:PCTY)‘s stock had its “hold” rating reaffirmed by Mizuho in a research note issued to investors on Thursday. They presently have a $45.00 target price on the software maker’s stock. Mizuho’s price objective points to a potential downside of 8.70% from the company’s previous close.
Several other research firms have also recently weighed in on PCTY. ValuEngine raised shares of Paylocity Holding Corporation from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. SunTrust Banks, Inc. assumed coverage on shares of Paylocity Holding Corporation in a research report on Monday, June 26th. They set a “hold” rating and a $45.00 price objective for the company. Northland Securities reaffirmed a “buy” rating and set a $55.00 price objective on shares of Paylocity Holding Corporation in a research report on Sunday, September 10th. Zacks Investment Research cut shares of Paylocity Holding Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, JMP Securities reissued an “outperform” rating and issued a $54.00 target price on shares of Paylocity Holding Corporation in a report on Tuesday, July 18th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $51.46.
Shares of Paylocity Holding Corporation (NASDAQ PCTY) traded down 1.38% during trading on Thursday, reaching $49.29. 120,437 shares of the company traded hands. Paylocity Holding Corporation has a 12 month low of $29.69 and a 12 month high of $50.72. The stock has a market capitalization of $2.55 billion, a PE ratio of 410.75 and a beta of 2.23. The company has a 50-day moving average of $47.91 and a 200-day moving average of $45.06.
Paylocity Holding Corporation (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, August 10th. The software maker reported ($0.06) earnings per share for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $73.79 million. During the same quarter in the prior year, the business posted ($0.01) earnings per share. Paylocity Holding Corporation’s revenue was up 27.3% compared to the same quarter last year. Analysts forecast that Paylocity Holding Corporation will post $0.79 earnings per share for the current fiscal year.
TRADEMARK VIOLATION WARNING: “Paylocity Holding Corporation (PCTY) Earns “Hold” Rating from Mizuho” was first reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/10/12/paylocity-holding-corporation-pcty-earns-hold-rating-from-mizuho.html.
In related news, CEO Steven R. Beauchamp sold 5,470 shares of the firm’s stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $50.09, for a total value of $273,992.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven R. Beauchamp sold 24,530 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $50.24, for a total transaction of $1,232,387.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,563,715 shares of company stock valued at $70,723,858. 53.10% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of PCTY. Ameritas Investment Partners Inc. raised its holdings in Paylocity Holding Corporation by 22.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,282 shares of the software maker’s stock valued at $103,000 after buying an additional 421 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in Paylocity Holding Corporation by 562.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,293 shares of the software maker’s stock valued at $149,000 after buying an additional 2,796 shares during the last quarter. Bank of Montreal Can raised its holdings in Paylocity Holding Corporation by 1.2% in the 2nd quarter. Bank of Montreal Can now owns 3,419 shares of the software maker’s stock valued at $154,000 after buying an additional 42 shares during the last quarter. Turner Investments LLC bought a new position in Paylocity Holding Corporation in the 2nd quarter valued at approximately $158,000. Finally, Invictus RG bought a new position in Paylocity Holding Corporation in the 1st quarter valued at approximately $198,000. Institutional investors and hedge funds own 60.87% of the company’s stock.
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.