Paylocity (NASDAQ:PCTY) Trading Down 5% - What's Next?

Paylocity Holding Corporation (NASDAQ:PCTY - Get Free Report) shares traded down 5% on Wednesday . The stock traded as low as $175.82 and last traded at $173.49. 83,828 shares changed hands during trading, a decline of 82% from the average session volume of 453,549 shares. The stock had previously closed at $182.62.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $250.00 price objective on shares of Paylocity in a report on Friday, May 2nd. Raymond James Financial reaffirmed an "outperform" rating and issued a $235.00 target price (down previously from $265.00) on shares of Paylocity in a research report on Friday, May 2nd. BMO Capital Markets lifted their price target on shares of Paylocity from $210.00 to $226.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Jefferies Financial Group cut their price target on shares of Paylocity from $255.00 to $235.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, Citigroup decreased their price objective on Paylocity from $246.00 to $225.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $224.75.

Paylocity Trading Down 5.0%

The business has a fifty day moving average price of $189.21 and a 200-day moving average price of $194.74. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.20. The company has a market cap of $9.58 billion, a P/E ratio of 43.33, a PEG ratio of 3.62 and a beta of 0.53.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, beating analysts' consensus estimates of $2.09 by $0.34. Paylocity had a return on equity of 22.90% and a net margin of 14.65%. The firm had revenue of $454.55 million for the quarter, compared to analyst estimates of $441.77 million. During the same period in the prior year, the firm posted $2.21 EPS. The company's revenue for the quarter was up 13.3% on a year-over-year basis. On average, analysts forecast that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

Institutional Investors Weigh In On Paylocity

Institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new stake in Paylocity during the fourth quarter worth about $29,000. Charles Schwab Investment Management Inc. raised its position in Paylocity by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 285,556 shares of the software maker's stock valued at $56,960,000 after purchasing an additional 3,130 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Paylocity by 89.1% during the 1st quarter. UMB Bank n.a. now owns 467 shares of the software maker's stock worth $87,000 after buying an additional 220 shares during the last quarter. Vanguard Group Inc. boosted its stake in Paylocity by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker's stock valued at $803,745,000 after buying an additional 46,183 shares in the last quarter. Finally, Private Advisor Group LLC bought a new position in Paylocity in the fourth quarter valued at about $246,000. 94.76% of the stock is currently owned by institutional investors.

Paylocity Company Profile

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.

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