ValuEngine upgraded shares of Paylocity (NASDAQ:PCTY) from a buy rating to a strong-buy rating in a report issued on Monday, February 4th.
Several other equities analysts have also issued reports on the company. Zacks Investment Research lowered Paylocity from a hold rating to a sell rating in a report on Friday, February 1st. BidaskClub raised Paylocity from a buy rating to a strong-buy rating in a report on Friday, January 25th. Finally, Robert W. Baird raised their price target on Paylocity from $68.00 to $71.00 and gave the stock an outperform rating in a report on Friday, November 2nd. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Paylocity currently has a consensus rating of Buy and a consensus target price of $78.80.
Paylocity stock opened at $87.04 on Monday. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 280.77, a price-to-earnings-growth ratio of 8.24 and a beta of 2.03. Paylocity has a 1-year low of $45.73 and a 1-year high of $92.50.
Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Wednesday, February 6th. The software maker reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.11). The firm had revenue of $107.20 million for the quarter, compared to analysts’ expectations of $104.68 million. Paylocity had a return on equity of 13.43% and a net margin of 12.81%. The business’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.16 EPS. Equities research analysts predict that Paylocity will post 0.54 EPS for the current year.
In related news, Director Steven I. Sarowitz sold 72,500 shares of Paylocity stock in a transaction that occurred on Friday, February 8th. The stock was sold at an average price of $81.04, for a total transaction of $5,875,400.00. Following the completion of the transaction, the director now directly owns 14,735,730 shares in the company, valued at approximately $1,194,183,559.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven R. Beauchamp sold 40,000 shares of Paylocity stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $83.69, for a total value of $3,347,600.00. Following the transaction, the chief executive officer now owns 1,885,948 shares of the company’s stock, valued at $157,834,988.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 851,809 shares of company stock valued at $72,257,121. Insiders own 41.20% of the company’s stock.
Several institutional investors have recently modified their holdings of PCTY. FTB Advisors Inc. grew its stake in Paylocity by 25.1% in the 4th quarter. FTB Advisors Inc. now owns 642 shares of the software maker’s stock worth $38,000 after acquiring an additional 129 shares during the period. Bronfman E.L. Rothschild L.P. grew 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 acquiring an additional 200 shares during the period. First Quadrant L P CA grew 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 acquiring an additional 1,229 shares during the period. Tower Research Capital LLC TRC purchased a new stake in Paylocity in the 2nd quarter worth approximately $102,000. Finally, Acadian Asset Management LLC purchased a new stake in Paylocity in the 3rd quarter worth approximately $143,000. Hedge funds and other institutional investors own 65.36% of the company’s stock.
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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