TheStreet Lowers Paylocity Holding Corporation (PCTY) to Sell

TheStreet downgraded shares of Paylocity Holding Corporation (NASDAQ:PCTY) from a hold rating to a sell rating in a research report report published on Thursday.

Other equities analysts have also recently issued reports about the stock. Deutsche Bank AG reiterated a buy rating and set a $55.00 target price on shares of Paylocity Holding Corporation in a research note on Monday, November 14th. Pacific Crest reiterated a hold rating on shares of Paylocity Holding Corporation in a research note on Wednesday, September 28th. Zacks Investment Research upgraded shares of Paylocity Holding Corporation from a hold rating to a buy rating and set a $46.00 target price for the company in a research note on Friday, November 4th. Oppenheimer Holdings, Inc. started coverage on shares of Paylocity Holding Corporation in a research note on Thursday, December 1st. They set a market perform rating for the company. Finally, Royal Bank Of Canada started coverage on shares of Paylocity Holding Corporation in a research note on Friday, September 30th. They set a sector perform rating and a $50.00 target price for the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $47.11.

Analyst Recommendations for Paylocity Holding Corporation (NASDAQ:PCTY)

Paylocity Holding Corporation (NASDAQ:PCTY) opened at 32.38 on Thursday. Paylocity Holding Corporation has a 1-year low of $24.00 and a 1-year high of $49.65. The firm’s 50-day moving average is $32.16 and its 200-day moving average is $40.55. The firm’s market capitalization is $1.66 billion.

Paylocity Holding Corporation (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.04. Paylocity Holding Corporation had a negative net margin of 1.19% and a negative return on equity of 1.24%. The business earned $65 million during the quarter, compared to analysts’ expectations of $63.58 million. During the same period in the previous year, the company earned $0.02 earnings per share. Paylocity Holding Corporation’s revenue for the quarter was up 44.1% on a year-over-year basis. On average, equities analysts anticipate that Paylocity Holding Corporation will post $0.38 EPS for the current year.

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In other Paylocity Holding Corporation news, CFO Peter J. Mcgrail sold 5,000 shares of the stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $34.28, for a total transaction of $171,400.00. Following the sale, the chief financial officer now owns 147,058 shares of the company’s stock, valued at approximately $5,041,148.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 53.10% of the company’s stock.

A number of large investors have recently modified their holdings of PCTY. Bank of New York Mellon Corp raised its position in shares of Paylocity Holding Corporation by 11.4% in the second quarter. Bank of New York Mellon Corp now owns 91,270 shares of the company’s stock valued at $3,942,000 after buying an additional 9,323 shares during the period. Riverbridge Partners LLC acquired a new position in shares of Paylocity Holding Corporation during the second quarter valued at about $23,597,000. Nationwide Fund Advisors raised its position in shares of Paylocity Holding Corporation by 10.2% in the second quarter. Nationwide Fund Advisors now owns 114,848 shares of the company’s stock valued at $4,961,000 after buying an additional 10,645 shares during the period. CIBC World Markets Inc. acquired a new position in shares of Paylocity Holding Corporation during the third quarter valued at about $1,640,000. Finally, First Trust Advisors LP acquired a new position in shares of Paylocity Holding Corporation during the second quarter valued at about $985,000. 63.09% of the stock is currently 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.

5 Day Chart for NASDAQ:PCTY

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