Mizuho Securities analyst Abhey Lamba maintained a Hold rating on Paylocity (NASDAQ: PCTY) today and set a price target of $45. The company’s shares opened today at $52.54.
Lamba commented:
“We expect total revenue around $111-113mm (+23-25% Y/Y) vs. guidance of $110-111mm and consensus of $111mm. Recurring revenue (just subscriptions) could print ~$106-108mm, or up 24-27% Y/Y. We see ongoing conservatism in adj. EBITDA guidance; results could come in ~$33-35mm vs. consensus of $33mm and guidance of $32.3-33.3mm. We expect upside to EPS guidance of $0.45-0.47 as well. Click here for our detailed preview and model.”
According to TipRanks.com, Lamba is a 5-star analyst with an average return of 13.8% and a 69.9% success rate. Lamba covers the Technology sector, focusing on stocks such as CommVault Systems, Microstrategy Inc, and Ultimate Software.
Currently, the analyst consensus on Paylocity is Moderate Buy and the average price target is $57.33, representing a 9.1% upside.
In a report issued on April 23, RBC Capital also downgraded the stock to Hold with a $56 price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $57.16 and a one-year low of $40.16. Currently, Paylocity has an average volume of 276K.
Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PCTY in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Paylocity Holding Corp. engages in the development and provision of cloud-based software solution. It offers cloud-based payroll, human capital management applications, time labor tracking, benefits administration, and talent management. The company was founded on November 6, 2013 and is headquartered in Arlington Heights, IL.
