KeyCorp started coverage on shares of Paylocity (NASDAQ:PCTY) in a research report released on Tuesday, The Fly reports. The firm issued an overweight rating on the software maker’s stock.
A number of other analysts have also commented on PCTY. Zacks Investment Research lowered shares of Paylocity from a hold rating to a sell rating in a report on Wednesday, December 19th. BidaskClub raised shares of Paylocity from a buy rating to a strong-buy rating in a report on Friday, January 25th. ValuEngine raised shares of Paylocity from a buy rating to a strong-buy rating in a report on Monday, February 4th. SunTrust Banks lifted their target price on shares of Paylocity to $83.00 and gave the stock a positive rating in a report on Tuesday, February 5th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $100.00 target price (up previously from $80.00) on shares of Paylocity in a report on Thursday, February 7th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $79.93.
PCTY opened at $90.27 on Tuesday. Paylocity has a 52 week low of $51.18 and a 52 week high of $93.62. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 291.19, a price-to-earnings-growth ratio of 8.23 and a beta of 2.09.
Paylocity (NASDAQ:PCTY) last released its earnings results on Wednesday, February 6th. The software maker reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). Paylocity had a return on equity of 13.43% and a net margin of 12.81%. The business had revenue of $107.20 million for the quarter, compared to analyst estimates of $104.68 million. During the same period in the prior year, the firm posted $0.16 EPS. Paylocity’s revenue was up 24.7% on a year-over-year basis. Equities analysts forecast that Paylocity will post 0.54 earnings per share for the current fiscal year.
In other news, Director Steven I. Sarowitz sold 72,500 shares of the business’s stock in a transaction on Friday, February 8th. The shares were sold at an average price of $81.04, for a total value of $5,875,400.00. Following the completion of the transaction, the director now owns 14,735,730 shares of the company’s stock, valued at approximately $1,194,183,559.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Edward W. Gaty sold 11,281 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $87.00, for a total transaction of $981,447.00. The disclosure for this sale can be found here. Insiders sold a total of 882,481 shares of company stock valued at $75,511,619 in the last three months. 41.20% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the company. FTB Advisors Inc. grew its holdings in shares of Paylocity by 25.1% in the 4th quarter. FTB Advisors Inc. now owns 642 shares of the software maker’s stock valued at $38,000 after buying an additional 129 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in Paylocity by 34.8% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 774 shares of the software maker’s stock worth $47,000 after purchasing an additional 200 shares during the period. First Quadrant L P CA boosted its stake in Paylocity by 460.3% in the 4th quarter. First Quadrant L P CA now owns 1,496 shares of the software maker’s stock worth $90,000 after purchasing an additional 1,229 shares during the period. Quantamental Technologies LLC acquired a new position in Paylocity in the 4th quarter worth $114,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Paylocity by 23.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,141 shares of the software maker’s stock worth $129,000 after purchasing an additional 407 shares during the period. 64.95% of the stock is owned by institutional investors.
Paylocity Company Profile
Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.
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