Paylocity Holding Corporation (NASDAQ:PCTY)‘s stock had its “hold” rating reissued by equities researchers at SunTrust Banks, Inc. in a note issued to investors on Friday. They presently have a $47.00 price target on the software maker’s stock. SunTrust Banks, Inc.’s target price suggests a potential downside of 6.58% from the stock’s previous close.

A number of other research firms also recently weighed in on PCTY. JMP Securities reiterated an “outperform” rating and set a $54.00 target price on shares of Paylocity Holding Corporation in a research report on Tuesday, July 18th. Zacks Investment Research upgraded Paylocity Holding Corporation from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Tuesday, July 18th. BidaskClub downgraded Paylocity Holding Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Raymond James Financial, Inc. set a $55.00 target price on Paylocity Holding Corporation and gave the company a “buy” rating in a research report on Wednesday, August 9th. Finally, Mizuho reiterated a “hold” rating and set a $45.00 target price on shares of Paylocity Holding Corporation in a research report on Thursday, August 10th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Paylocity Holding Corporation presently has an average rating of “Buy” and an average price target of $52.57.

Shares of Paylocity Holding Corporation (NASDAQ PCTY) opened at $50.31 on Friday. The company has a market cap of $2.70 billion, a PE ratio of 234.50, a price-to-earnings-growth ratio of 7.03 and a beta of 2.24.

Paylocity Holding Corporation (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, November 2nd. The software maker reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.17. The business had revenue of $81.50 million during the quarter, compared to the consensus estimate of $80.88 million. Paylocity Holding Corporation had a return on equity of 8.11% and a net margin of 3.11%. The firm’s quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 EPS. equities analysts predict that Paylocity Holding Corporation will post 0.27 earnings per share for the current fiscal year.

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In other Paylocity Holding Corporation news, Director Steven I. Sarowitz sold 200,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $44.81, for a total value of $8,962,000.00. Following the completion of the transaction, the director now owns 16,212,317 shares of the company’s stock, valued at approximately $726,473,924.77. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Steven R. Beauchamp sold 5,470 shares of the company’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $50.09, for a total value of $273,992.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,563,715 shares of company stock valued at $70,723,858. Insiders own 48.80% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of PCTY. Parametric Portfolio Associates LLC increased its holdings in Paylocity Holding Corporation by 54.1% in the 1st quarter. Parametric Portfolio Associates LLC now owns 49,432 shares of the software maker’s stock worth $1,910,000 after purchasing an additional 17,364 shares in the last quarter. American International Group Inc. increased its stake in shares of Paylocity Holding Corporation by 7.1% in the first quarter. American International Group Inc. now owns 13,273 shares of the software maker’s stock valued at $513,000 after buying an additional 878 shares during the period. Teachers Advisors LLC increased its stake in shares of Paylocity Holding Corporation by 2.1% in the first quarter. Teachers Advisors LLC now owns 36,565 shares of the software maker’s stock valued at $1,413,000 after buying an additional 753 shares during the period. Vanguard Group Inc. increased its stake in shares of Paylocity Holding Corporation by 4.0% in the first quarter. Vanguard Group Inc. now owns 1,994,306 shares of the software maker’s stock valued at $77,040,000 after buying an additional 76,297 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Paylocity Holding Corporation by 8.7% in the first quarter. Geode Capital Management LLC now owns 211,907 shares of the software maker’s stock valued at $8,185,000 after buying an additional 16,993 shares during the period. 60.86% of the stock is owned by institutional investors and hedge funds.

About Paylocity Holding Corporation

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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