Mizuho Reaffirms “Hold” Rating for Paylocity Holding Corporation (PCTY)

Mizuho reiterated their hold rating on shares of Paylocity Holding Corporation (NASDAQ:PCTY) in a research report sent to investors on Thursday. The firm currently has a $45.00 price target on the software maker’s stock.

A number of other brokerages have also recently weighed in on PCTY. ValuEngine raised Paylocity Holding Corporation from a sell rating to a hold rating in a research note on Friday, September 1st. SunTrust Banks, Inc. began coverage on Paylocity Holding Corporation in a research note on Monday, June 26th. They issued a hold rating and a $45.00 price target on the stock. Northland Securities reissued a buy rating and issued a $55.00 price target on shares of Paylocity Holding Corporation in a research note on Sunday, September 10th. Zacks Investment Research cut Paylocity Holding Corporation from a buy rating to a hold rating in a research note on Wednesday, July 19th. Finally, JMP Securities reissued an outperform rating and issued a $54.00 price target on shares of Paylocity Holding Corporation in a research note on Tuesday, July 18th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Paylocity Holding Corporation currently has an average rating of Hold and an average target price of $51.46.

Paylocity Holding Corporation (PCTY) traded up 1.26% on Thursday, reaching $49.91. 184,485 shares of the company’s stock were exchanged. The stock has a market capitalization of $2.58 billion, a P/E ratio of 415.92 and a beta of 2.23. The firm’s 50 day moving average is $48.11 and its 200 day moving average is $45.22. Paylocity Holding Corporation has a 1-year low of $29.69 and a 1-year high of $50.72.

Paylocity Holding Corporation (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, August 10th. The software maker reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.04. The firm had revenue of $76.10 million for the quarter, compared to analysts’ expectations of $73.79 million. Paylocity Holding Corporation had a return on equity of 6.13% and a net margin of 2.24%. Paylocity Holding Corporation’s revenue was up 27.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) EPS. Analysts expect that Paylocity Holding Corporation will post $0.79 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This report was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another website, it was illegally copied and reposted in violation of United States & international copyright and trademark law. The legal version of this report can be read at https://ledgergazette.com/2017/10/15/mizuho-reaffirms-hold-rating-for-paylocity-holding-corporation-pcty.html.

In other news, SVP Edward W. Gaty sold 5,185 shares of Paylocity Holding Corporation stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $48.92, for a total transaction of $253,650.20. Following the completion of the sale, the senior vice president now directly owns 116,135 shares in the company, valued at approximately $5,681,324.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Steven R. Beauchamp sold 23,530 shares of Paylocity Holding Corporation stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $50.25, for a total value of $1,182,382.50. Following the sale, the chief executive officer now owns 2,253,978 shares of the company’s stock, valued at $113,262,394.50. The disclosure for this sale can be found here. Insiders have sold a total of 1,563,715 shares of company stock valued at $70,723,858 over the last 90 days. Corporate insiders own 53.10% of the company’s stock.

Several institutional investors have recently made changes to their positions in PCTY. Janus Henderson Group PLC acquired a new stake in shares of Paylocity Holding Corporation during the 2nd quarter valued at about $29,148,000. Tudor Investment Corp ET AL lifted its holdings in shares of Paylocity Holding Corporation by 2,737.3% during the 1st quarter. Tudor Investment Corp ET AL now owns 314,709 shares of the software maker’s stock valued at $12,157,000 after buying an additional 303,617 shares during the last quarter. Blair William & Co. IL lifted its holdings in shares of Paylocity Holding Corporation by 70.1% during the 2nd quarter. Blair William & Co. IL now owns 545,439 shares of the software maker’s stock valued at $24,643,000 after buying an additional 224,771 shares during the last quarter. Granahan Investment Management Inc. MA acquired a new stake in shares of Payl

A number of other brokerages have also recently weighed in on PCTY. ValuEngine raised Paylocity Holding Corporation from a sell rating to a hold rating in a research note on Friday, September 1st. SunTrust Banks, Inc. began coverage on Paylocity Holding Corporation in a research note on Monday, June 26th. They issued a hold rating and a $45.00 price target on the stock. Northland Securities reissued a buy rating and issued a $55.00 price target on shares of Paylocity Holding Corporation in a research note on Sunday, September 10th. Zacks Investment Research cut Paylocity Holding Corporation from a buy rating to a hold rating in a research note on Wednesday, July 19th. Finally, JMP Securities reissued an outperform rating and issued a $54.00 price target on shares of Paylocity Holding Corporation in a research note on Tuesday, July 18th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Paylocity Holding Corporation currently has an average rating of Hold and an average target price of $51.46.

Paylocity Holding Corporation (PCTY) traded up 1.26% on Thursday, reaching $49.91. 184,485 shares of the company’s stock were exchanged. The stock has a market capitalization of $2.58 billion, a P/E ratio of 415.92 and a beta of 2.23. The firm’s 50 day moving average is $48.11 and its 200 day moving average is $45.22. Paylocity Holding Corporation has a 1-year low of $29.69 and a 1-year high of $50.72.

Paylocity Holding Corporation (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, August 10th. The software maker reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.04. The firm had revenue of $76.10 million for the quarter, compared to analysts’ expectations of $73.79 million. Paylocity Holding Corporation had a return on equity of 6.13% and a net margin of 2.24%. Paylocity Holding Corporation’s revenue was up 27.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) EPS. Analysts expect that Paylocity Holding Corporation will post $0.79 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This report was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another website, it was illegally copied and reposted in violation of United States & international copyright and trademark law. The legal version of this report can be read at https://ledgergazette.com/2017/10/15/mizuho-reaffirms-hold-rating-for-paylocity-holding-corporation-pcty.html.

In other news, SVP Edward W. Gaty sold 5,185 shares of Paylocity Holding Corporation stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $48.92, for a total transaction of $253,650.20. Following the completion of the sale, the senior vice president now directly owns 116,135 shares in the company, valued at approximately $5,681,324.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Steven R. Beauchamp sold 23,530 shares of Paylocity Holding Corporation stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $50.25, for a total value of $1,182,382.50. Following the sale, the chief executive officer now owns 2,253,978 shares of the company’s stock, valued at $113,262,394.50. The disclosure for this sale can be found here. Insiders have sold a total of 1,563,715 shares of company stock valued at $70,723,858 over the last 90 days. Corporate insiders own 53.10% of the company’s stock.

Several institutional investors have recently made changes to their positions in PCTY. Janus Henderson Group PLC acquired a new stake in shares of Paylocity Holding Corporation during the 2nd quarter valued at about $29,148,000. Tudor Investment Corp ET AL lifted its holdings in shares of Paylocity Holding Corporation by 2,737.3% during the 1st quarter. Tudor Investment Corp ET AL now owns 314,709 shares of the software maker’s stock valued at $12,157,000 after buying an additional 303,617 shares during the last quarter. Blair William & Co. IL lifted its holdings in shares of Paylocity Holding Corporation by 70.1% during the 2nd quarter. Blair William & Co. IL now owns 545,439 shares of the software maker’s stock valued at $24,643,000 after buying an additional 224,771 shares during the last quarter. Granahan Investment Management Inc. MA acquired a new stake in shares of Paylocity Holding Corporation during the 1st quarter valued at about $4,936,000. Finally, Palisade Capital Management LLC NJ acquired a new stake in shares of Paylocity Holding Corporation during the 2nd quarter valued at about $5,092,000. Institutional investors and hedge funds own 60.87% of the company’s stock.

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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