Paylocity (PCTY) Hits New 12-Month High at $103.80

Paylocity Holding Corp (NASDAQ:PCTY) hit a new 52-week high during trading on Tuesday . The company traded as high as $103.80 and last traded at $102.14, with a volume of 223308 shares changing hands. The stock had previously closed at $101.42.

A number of equities research analysts recently issued reports on PCTY shares. Zacks Investment Research lowered shares of Paylocity from a “hold” rating to a “sell” rating in a report on Friday, February 1st. ValuEngine raised shares of Paylocity from a “buy” rating to a “strong-buy” rating in a report on Monday, February 4th. SunTrust Banks upped their price objective on shares of Paylocity to $83.00 and gave the company a “positive” rating in a report on Tuesday, February 5th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective (up previously from $80.00) on shares of Paylocity in a report on Thursday, February 7th. Finally, Craig Hallum upped their price objective on shares of Paylocity from $65.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, February 7th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $90.50.

The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 325.03, a PEG ratio of 9.05 and a beta of 2.07.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, May 2nd. The software maker reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.19. The company had revenue of $139.60 million during the quarter, compared to analyst estimates of $135.97 million. Paylocity had a net margin of 9.52% and a return on equity of 15.29%. Paylocity’s revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 earnings per share. On average, research analysts predict that Paylocity Holding Corp will post 0.56 EPS for the current year.

In other Paylocity news, CEO Steven R. Beauchamp sold 55,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $96.40, for a total transaction of $5,302,000.00. Following the completion of the transaction, the chief executive officer now owns 1,881,682 shares of the company’s stock, valued at $181,394,144.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael R. Haske sold 50,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $86.34, for a total transaction of $4,317,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 288,705 shares of company stock valued at $27,079,362. 41.20% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC lifted its position in shares of Paylocity by 0.5% during the first quarter. AQR Capital Management LLC now owns 23,388 shares of the software maker’s stock worth $2,086,000 after purchasing an additional 124 shares in the last quarter. FTB Advisors Inc. lifted its position in shares of Paylocity by 25.1% during the fourth quarter. FTB Advisors Inc. now owns 642 shares of the software maker’s stock worth $38,000 after purchasing an additional 129 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Paylocity by 7.4% during the first quarter. Fifth Third Bancorp now owns 2,581 shares of the software maker’s stock worth $230,000 after purchasing an additional 177 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its position in shares of Paylocity by 34.8% during the fourth 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 in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Paylocity by 2.2% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,390 shares of the software maker’s stock worth $837,000 after purchasing an additional 200 shares in the last quarter. 64.23% of the stock is owned by institutional investors.

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Paylocity Company Profile (NASDAQ:PCTY)

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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