Paylocity Holding Co. (NASDAQ: PCTY) was the target of a significant increase in short-term interest in May. As of May 14, there was short interest totaling 836,500 shares, an increase of 28.2% from the total of 652,500 shares as of April 29. Based on an average daily trade volume of 244,800 shares, the day-to-coverage ratio is currently 3.4 days. About 2.2% of the stock’s shares are sold short.
NASDAQ shares: PCTY opened at $ 169.83 on Tuesday. The company has a fifty-day moving average of $ 179.18 and a two-hundred-day moving average of $ 189.79. Paylocity has a 12 month low of $ 123.25 and a 12 month high of $ 218.34. The company has a market cap of $ 9.25 billion, a P / E ratio of 150.29, a price / earnings-growth ratio of 9.83 and a beta of 1.23.
Paylocity (NASDAQ: PCTY) last released its quarterly earnings data on Thursday, May 6. The software maker reported earnings per share (EPS) of $ 0.88 for the quarter, beating analyst consensus estimates of $ 0.67 by $ 0.21. Paylocity had a return on equity of 15.28% and a net margin of 10.67%. The company posted sales of $ 186.05 million in the quarter, compared to analysts’ expectations of $ 185.25 million. In the same quarter of last year, the company made earnings per share of $ 0.83. The company’s revenue for the quarter increased 8.4% year over year. Analysts on the seller’s side expect Paylocity to post earnings per share of 0.87 for the current year.
Several equity research analysts commented on the stock. Zacks investment research reduce Paylocity stock from a “buy” rating to a “maintain” rating and set a target price of $ 224.00 on the stock. in a research report on Wednesday February 10. Raymond James lowered his target price on Paylocity stock from $ 240.00 to $ 205.00 and established an “outperformance” rating for the company in a research note on Friday, May 7. Piper Sandler lowered her target price on Paylocity stock from $ 205.00 to $ 184.00 and set a “neutral” rating on the stock in a research report on Friday, May 7. KeyCorp lowered its price target on Paylocity from $ 230.00 to $ 220.00 and set an “overweight” rating on the stock in a report on Monday, May 10. They noted that the move was an appraisal call. Finally, Wolfe Research launched a cover on Paylocity in a report on Wednesday, April 28. They issued a “peer performance” rating and a target price of $ 200.00 on the stock. Six investment analysts rated the stock with a sustaining rating and seven issued a buy rating to the company. Paylocity currently has a consensus rating of “Buy” and a consensus price target of $ 197.94.
A number of hedge funds and other institutional investors have recently bought and sold shares of PCTY. Harvest Fund Management Co. Ltd. increased its position in Paylocity by 9.2% in the fourth quarter. Harvest Fund Management Co. Ltd. now owns 560 shares of the software maker valued at $ 115,000 after acquiring 47 additional shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in Paylocity by 1.6% in the first quarter. Crossmark Global Holdings Inc. now owns 5,860 shares of the software maker valued at $ 1,054,000 after purchasing 90 more shares in the last quarter. The Oregon Public Employees Retirement Fund increased its position in Paylocity by 0.8% in the first quarter. The Oregon Public Employees Retirement Fund now owns 12,424 shares of the software maker valued at $ 2,234,000 after buying 98 more shares in the last quarter. Clearbridge Investments LLC increased its holdings in Paylocity by 1.4% in the first quarter. Clearbridge Investments LLC now owns 7,263 shares of the software maker valued at $ 1,306,000 after purchasing 98 additional shares in the last quarter. Finally, State of Michigan Retirement System increased its stake in Paylocity shares by 0.7% in the 4th quarter. State of Michigan Retirement System now owns 13,625 shares of the software maker valued at $ 2,806,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors hold 68.53% of the company’s shares.
Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for mid-size businesses in the United States. The company offers a payroll module that allows customers to automate key payroll processes and manage compliance; Core HR module, which provides a set of HR capabilities for clients to manage HR data; and a Talent module that enables clients to manage their talents throughout employee tenure, starting with recruiting and going through onboarding, learning and performance management.
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