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NVDA   179.42 (-0.86%)
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BABA   94.87 (+2.64%)
AMD   98.12 (-0.94%)
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T   18.04 (+0.17%)
CGC   3.15 (-4.26%)
GE   78.90 (+2.28%)
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DIS   117.69 (+4.68%)
AMC   25.46 (+7.56%)
PYPL   99.11 (+0.20%)
PFE   48.29 (-3.32%)
NFLX   242.70 (-0.58%)
QQQ   324.08 (-0.57%)
AAPL   168.49 (-0.44%)
MSFT   287.02 (-0.74%)
META   177.49 (-0.48%)
GOOGL   118.84 (-0.72%)
AMZN   140.64 (-1.44%)
TSLA   859.89 (-2.62%)
NVDA   179.42 (-0.86%)
NIO   20.82 (+3.84%)
BABA   94.87 (+2.64%)
AMD   98.12 (-0.94%)
MU   62.32 (+1.50%)
T   18.04 (+0.17%)
CGC   3.15 (-4.26%)
GE   78.90 (+2.28%)
F   15.83 (+2.13%)
DIS   117.69 (+4.68%)
AMC   25.46 (+7.56%)
PYPL   99.11 (+0.20%)
PFE   48.29 (-3.32%)
NFLX   242.70 (-0.58%)
QQQ   324.08 (-0.57%)
AAPL   168.49 (-0.44%)
MSFT   287.02 (-0.74%)
META   177.49 (-0.48%)
GOOGL   118.84 (-0.72%)
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TSLA   859.89 (-2.62%)
NVDA   179.42 (-0.86%)
NIO   20.82 (+3.84%)
BABA   94.87 (+2.64%)
AMD   98.12 (-0.94%)
MU   62.32 (+1.50%)
T   18.04 (+0.17%)
CGC   3.15 (-4.26%)
GE   78.90 (+2.28%)
F   15.83 (+2.13%)
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PFE   48.29 (-3.32%)
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Paylocity (NASDAQ:PCTY) PT Raised to $240.00

Paylocity (NASDAQ:PCTY - Get Rating) had its price target raised by investment analysts at Credit Suisse Group to $240.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports. Credit Suisse Group's price target points to a potential downside of 8.27% from the stock's current price.

A number of other brokerages have also weighed in on PCTY. Wolfe Research upped their target price on shares of Paylocity from $220.00 to $290.00 and gave the stock an "outperform" rating in a research report on Monday. KeyCorp upped their target price on shares of Paylocity from $205.00 to $285.00 and gave the stock an "overweight" rating in a research report on Friday. Jefferies Financial Group dropped their target price on shares of Paylocity from $255.00 to $200.00 in a research report on Monday, May 23rd. Robert W. Baird increased their price objective on shares of Paylocity from $274.00 to $305.00 and gave the company an "outperform" rating in a research report on Friday. Finally, Cowen increased their target price on shares of Paylocity from $240.00 to $265.00 in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $265.63.

Paylocity Trading Up 0.3 %


Shares of Paylocity stock traded up $0.84 on Tuesday, hitting $261.64. 5,077 shares of the company traded hands, compared to its average volume of 318,055. The firm's 50-day simple moving average is $186.76 and its 200 day simple moving average is $191.88. The company has a market cap of $14.42 billion, a P/E ratio of 163.08 and a beta of 1.27. Paylocity has a 12-month low of $152.01 and a 12-month high of $314.49.

Paylocity (NASDAQ:PCTY - Get Rating) last announced its earnings results on Thursday, August 4th. The software maker reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.28. Paylocity had a net margin of 10.65% and a return on equity of 17.29%. The firm had revenue of $228.95 million for the quarter, compared to analyst estimates of $217.96 million. During the same quarter in the previous year, the firm posted $0.24 EPS. The company's revenue for the quarter was up 36.7% compared to the same quarter last year. Analysts predict that Paylocity will post 1.56 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Steven R. Beauchamp sold 49,658 shares of Paylocity stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $200.00, for a total value of $9,931,600.00. Following the completion of the sale, the chief executive officer now directly owns 1,780,014 shares in the company, valued at approximately $356,002,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Paylocity news, CEO Steven R. Beauchamp sold 49,658 shares of the firm's stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $200.00, for a total transaction of $9,931,600.00. Following the completion of the transaction, the chief executive officer now directly owns 1,780,014 shares of the company's stock, valued at approximately $356,002,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ryan Glenn sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $200.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now directly owns 16,910 shares of the company's stock, valued at $3,382,000. The disclosure for this sale can be found here. Insiders sold 133,443 shares of company stock worth $24,884,062 in the last three months. Corporate insiders own 28.80% of the company's stock.

Hedge Funds Weigh In On Paylocity

Several institutional investors have recently made changes to their positions in the company. First Republic Investment Management Inc. increased its holdings in shares of Paylocity by 1.0% during the 4th quarter. First Republic Investment Management Inc. now owns 4,661 shares of the software maker's stock valued at $1,101,000 after purchasing an additional 48 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its holdings in Paylocity by 0.8% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 6,643 shares of the software maker's stock worth $1,159,000 after acquiring an additional 53 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Paylocity by 26.2% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 260 shares of the software maker's stock worth $54,000 after acquiring an additional 54 shares in the last quarter. Parallel Advisors LLC increased its holdings in Paylocity by 101.7% in the 1st quarter. Parallel Advisors LLC now owns 121 shares of the software maker's stock worth $25,000 after acquiring an additional 61 shares in the last quarter. Finally, Advisory Services Network LLC increased its holdings in Paylocity by 4.7% in the 2nd quarter. Advisory Services Network LLC now owns 1,571 shares of the software maker's stock worth $275,000 after acquiring an additional 70 shares in the last quarter. 69.01% of the stock is owned by hedge funds and other institutional investors.

About Paylocity

(Get Rating)

Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Payroll and Tax Services solution to simplify payroll, automate processes and manage compliance requirements within one system; expense management, on demand payment, and garnishment solutions; human capital management and employee self-service solutions, document library, compliance dashboard, and HR edge; time and attendance solution, which tracks time and attendance data, eliminating the need for manual tracking of accruals and reducing administrative tasks; schedule tracking services; and time collection devices, including kiosks, time clocks, and mobile and web applications.

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Analyst Recommendations for Paylocity (NASDAQ:PCTY)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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