RBC Capital Upgrades Paylocity Holding Corp to Outperform with Price Target $47

Brokerage firm RBC Capital Upgrades its rating on Paylocity Holding Corp(PCTY). As per the latest information, RBC Capital Raises the price target to $47 per share from a prior target of $38. The shares have been rated Outperform. Previously, the analysts had a Sector Perform rating on the shares. The rating by the stock financial advisor at RBC Capital was issued on Mar 28, 2017 in a research report to their Investors and Clients.

In a different note, Mizuho said it Initiates Coverage On Paylocity Holding Corp, according to a research note issued on Mar 3, 2017. In the research note, the firm Announces the price-target to $35 per share. The shares have been rated ‘Neutral’ by the firm. On Feb 3, 2017, Bank of America said it Upgrades its rating on Paylocity Holding Corp. The shares have been rated ‘Buy’ by the firm.

Paylocity Holding Corp (PCTY) made into the market gainers list on Fridays trading session with the shares advancing 0.49% or 0.17 points. Due to strong positive momentum, the stock ended at $35.02, which is also near the day’s high of $35.45. The stock began the session at $34.78 and the volume stood at 1,58,559 shares. The 52-week high of the shares is $49.65 and the 52 week low is $29.02. The company has a current market capitalization of $1,801 M and it has 5,14,37,392 shares in outstanding.

Paylocity Holding Corp(PCTY) last announced its earnings results on Feb 2, 2017 for Fiscal Year 2017 and Q2.Company reported revenue of $68.654M. Analysts had an estimated revenue of $66.730M. Earnings per share were $0.1. Analysts had estimated an EPS of $0.03.

Several Insider Transactions has been reported to the SEC. On Feb 16, 2017, Peter J Mcgrail (Chief Financial Officer) sold 5,000 shares at $36.27 per share price.Also, On Feb 16, 2017, Steven R Beauchamp (President and CEO) sold 20,000 shares at $36.09 per share price.On Aug 16, 2016, Michael R Haske (Senior VP of Sales & Marketing) sold 100,000 shares at $45.60 per share price, according to the Form-4 filing with the securities and exchange commission.

Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (HCM) software solutions for medium-sized organizations. The Company’s solutions enable its clients to manage their workforce. Its multi-tenant software platform is configurable and includes a suite of payroll and HCM applications such as time and labor tracking benefits and talent management. Its payroll and HCM applications use a unified database and provide on-demand reporting and analytics. The Company’s platform provides intuitive self-service functionality for employees and managers combined with seamless integration across all its solutions. The Company markets and sells its products primarily through its direct sales force. Its products include Paylocity Web Pay Paylocity Affordable Care Act Enhanced Paylocity Impressions Performance Management Paylocity Web Onboarding Paylocity Web Time and Paylocity Web Benefits and Paylocity Enterprise Benefits powered by bswift.

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