BidaskClub downgraded shares of Paylocity (NASDAQ:PCTY) from a hold rating to a sell rating in a research note published on Wednesday, December 27th.
Several other equities analysts have also issued reports on the company. ValuEngine upgraded Paylocity from a sell rating to a hold rating in a research report on Friday, September 1st. Robert W. Baird boosted their target price on Paylocity from $52.00 to $56.00 and gave the stock an outperform rating in a research report on Friday, November 3rd. Zacks Investment Research lowered Paylocity from a buy rating to a hold rating in a research report on Friday, November 10th. TheStreet lowered Paylocity from a b- rating to a c+ rating in a research report on Tuesday, December 5th. Finally, Bank of America boosted their target price on Paylocity from $50.00 to $56.00 and gave the stock a buy rating in a research report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Paylocity currently has a consensus rating of Hold and a consensus target price of $52.92.
Shares of Paylocity (NASDAQ PCTY) opened at $49.64 on Wednesday. The company has a market capitalization of $2,610.00, a PE ratio of 275.78, a P/E/G ratio of 6.29 and a beta of 2.11. Paylocity has a 12-month low of $29.69 and a 12-month high of $53.96.
Paylocity (NASDAQ:PCTY) last posted its earnings results on Thursday, November 2nd. The software maker reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.17. The company had revenue of $81.50 million during the quarter, compared to analyst estimates of $80.88 million. Paylocity had a return on equity of 7.98% and a net margin of 3.11%. The company’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 EPS. equities research analysts expect that Paylocity will post 0.33 EPS for the current fiscal year.
In other news, SVP Edward W. Gaty sold 5,062 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $45.82, for a total transaction of $231,940.84. Following the sale, the senior vice president now owns 116,135 shares in the company, valued at approximately $5,321,305.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Steven I. Sarowitz sold 1,296,142 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $46.14, for a total value of $59,803,991.88. Following the sale, the director now owns 15,343,130 shares in the company, valued at approximately $707,932,018.20. The disclosure for this sale can be found here. Insiders sold a total of 1,376,204 shares of company stock worth $63,542,933 in the last 90 days. Company insiders own 48.80% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Bank of Montreal Can raised its stake in shares of Paylocity by 1.2% during the 2nd quarter. Bank of Montreal Can now owns 3,419 shares of the software maker’s stock worth $154,000 after purchasing an additional 42 shares in the last quarter. Citigroup Inc. raised its stake in shares of Paylocity by 3.8% during the 2nd quarter. Citigroup Inc. now owns 11,366 shares of the software maker’s stock worth $514,000 after purchasing an additional 413 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Paylocity by 22.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,282 shares of the software maker’s stock worth $103,000 after purchasing an additional 421 shares in the last quarter. Bayesian Capital Management LP raised its stake in shares of Paylocity by 10.8% during the 2nd quarter. Bayesian Capital Management LP now owns 6,144 shares of the software maker’s stock worth $278,000 after purchasing an additional 600 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Paylocity by 13.1% during the 2nd quarter. Legal & General Group Plc now owns 7,726 shares of the software maker’s stock worth $349,000 after purchasing an additional 895 shares in the last quarter. Institutional investors own 59.78% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This piece of content was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece of content on another website, it was stolen and republished in violation of United States and international copyright and trademark law. The legal version of this piece of content can be accessed at https://ledgergazette.com/2018/01/13/paylocity-pcty-rating-lowered-to-sell-at-bidaskclub.html.
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.
Receive News & Ratings for Paylocity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paylocity and related companies with MarketBeat.com's FREE daily email newsletter.