Paylocity (PCTY) Now Covered by KeyCorp

Research analysts at KeyCorp began coverage on shares of Paylocity (NASDAQ:PCTY) in a note issued to investors on Tuesday, The Fly reports. The brokerage set an “overweight” rating on the software maker’s stock.

A number of other analysts have also weighed in on the company. Zacks Investment Research lowered Paylocity from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. ValuEngine downgraded Paylocity from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. Jefferies Financial Group upped their target price on Paylocity to $85.00 and gave the company a “hold” rating in a report on Thursday, February 7th. JMP Securities upped their target price on Paylocity from $77.00 to $89.00 and gave the company an “outperform” rating in a report on Thursday, February 7th. Finally, Raymond James upped their target price on Paylocity from $75.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, February 7th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Paylocity presently has a consensus rating of “Buy” and an average price target of $79.93.

Shares of NASDAQ:PCTY traded up $0.99 during trading on Tuesday, reaching $90.34. 30,335 shares of the company traded hands, compared to its average volume of 275,984. The firm has a market cap of $4.73 billion, a PE ratio of 291.19, a price-to-earnings-growth ratio of 8.10 and a beta of 2.09. Paylocity has a 52-week low of $51.18 and a 52-week high of $92.50.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Wednesday, February 6th. The software maker reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). The company had revenue of $107.20 million for the quarter, compared to analysts’ expectations of $104.68 million. Paylocity had a net margin of 12.81% and a return on equity of 13.43%. The business’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period last year, the company posted $0.16 EPS. As a group, equities research analysts forecast that Paylocity will post 0.54 EPS for the current fiscal year.

In other Paylocity news, SVP Edward W. Gaty sold 11,281 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $87.00, for a total value of $981,447.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven I. Sarowitz sold 72,500 shares of the stock in a transaction on Friday, February 8th. The stock was 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 882,481 shares of company stock valued at $75,511,619. 41.20% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FTB Advisors Inc. increased its holdings in shares of Paylocity by 25.1% during the fourth quarter. FTB Advisors Inc. now owns 642 shares of the software maker’s stock valued at $38,000 after acquiring an additional 129 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its holdings 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 valued at $47,000 after acquiring an additional 200 shares in the last quarter. First Quadrant L P CA increased its holdings in shares of Paylocity by 460.3% during the fourth quarter. First Quadrant L P CA now owns 1,496 shares of the software maker’s stock valued at $90,000 after acquiring an additional 1,229 shares in the last quarter. Quantamental Technologies LLC bought a new position in shares of Paylocity during the fourth quarter valued at $114,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Paylocity by 23.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,141 shares of the software maker’s stock valued at $129,000 after acquiring an additional 407 shares in the last quarter. Institutional investors and hedge funds own 64.95% of the company’s stock.

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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The Fly

Analyst Recommendations for Paylocity (NASDAQ:PCTY)

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