Paylocity (PCTY) Reaches New 52-Week High at $94.14
Paylocity Holding Corp (NASDAQ:PCTY) hit a new 52-week high during trading on Tuesday . The stock traded as high as $94.14 and last traded at $94.15, with a volume of 9059 shares traded. The stock had previously closed at $91.15.
PCTY has been the topic of several research analyst reports. Zacks Investment Research reiterated a “hold” rating on shares of Paylocity in a research note on Monday, December 31st. BidaskClub upgraded shares of Paylocity from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 25th. ValuEngine upgraded shares of Paylocity from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 4th. SunTrust Banks lifted their price target on shares of Paylocity to $83.00 and gave the stock a “positive” rating in a research note on Tuesday, February 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target (up from $80.00) on shares of Paylocity in a research note on Thursday, February 7th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $81.53.
The company has a market cap of $4.82 billion, a P/E ratio of 305.48, a price-to-earnings-growth ratio of 8.21 and a beta of 2.09.
In other Paylocity news, Director Jeffrey T. Diehl sold 58,700 shares of Paylocity stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $89.56, for a total transaction of $5,257,172.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Edward W. Gaty sold 11,281 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $87.00, for a total transaction of $981,447.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 882,481 shares of company stock worth $75,511,619. 41.20% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. BB&T Corp purchased a new position in shares of Paylocity in the first quarter valued at $208,000. Strs Ohio boosted its stake in Paylocity by 84.3% during the 1st quarter. Strs Ohio now owns 28,200 shares of the software maker’s stock valued at $2,515,000 after acquiring an additional 12,900 shares during the last quarter. Conestoga Capital Advisors LLC boosted its stake in Paylocity by 1.1% during the 1st quarter. Conestoga Capital Advisors LLC now owns 588,637 shares of the software maker’s stock valued at $52,501,000 after acquiring an additional 6,305 shares during the last quarter. Pennsylvania Trust Co bought a new position in Paylocity during the 1st quarter valued at $1,585,000. Finally, Summit Creek Advisors LLC bought a new position in Paylocity during the 1st quarter valued at $8,588,000. 64.95% of the stock is owned by institutional investors and hedge funds.
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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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