Press coverage about Paylocity Holding Corporation (NASDAQ:PCTY) has been trending very positive this week, according to Accern Sentiment Analysis. Accern identifies positive and negative press coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Paylocity Holding Corporation earned a media sentiment score of 0.56 on Accern’s scale. Accern also gave media stories about the software maker an impact score of 100 out of 100, indicating that recent press coverage is extremely likely to have an impact on the company’s share price in the next several days.
Paylocity Holding Corporation (PCTY) traded down 0.68% during mid-day trading on Tuesday, reaching $43.92. 321,495 shares of the company’s stock traded hands. The stock’s 50 day moving average is $46.28 and its 200-day moving average is $40.84. The stock has a market capitalization of $2.26 billion, a PE ratio of 439.20 and a beta of 2.26. Paylocity Holding Corporation has a 52 week low of $29.69 and a 52 week high of $49.65.
Several research firms have commented on PCTY. BidaskClub lowered shares of Paylocity Holding Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Royal Bank Of Canada increased their price objective on shares of Paylocity Holding Corporation from $47.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, May 25th. Wells Fargo & Company reiterated a “market perform” rating on shares of Paylocity Holding Corporation in a research report on Friday, May 12th. Deutsche Bank AG increased their price objective on shares of Paylocity Holding Corporation from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, May 5th. Finally, Needham & Company LLC raised their target price on shares of Paylocity Holding Corporation from $46.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, May 25th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $48.82.
In other news, Director Steven I. Sarowitz sold 27,301 shares of Paylocity Holding Corporation stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $45.05, for a total transaction of $1,229,910.05. Following the completion of the transaction, the director now owns 16,250,729 shares of the company’s stock, valued at approximately $732,095,341.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Peter J. Mcgrail sold 49,764 shares of Paylocity Holding Corporation stock in a transaction on Friday, June 9th. The stock was sold at an average price of $47.27, for a total value of $2,352,344.28. Following the transaction, the chief financial officer now directly owns 227,475 shares of the company’s stock, valued at approximately $10,752,743.25. The disclosure for this sale can be found here. In the last three months, insiders sold 355,021 shares of company stock valued at $15,942,057. 53.10% of the stock is owned by corporate insiders.
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.
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