In a report released today, Brian Schwartz from Oppenheimer maintained a Hold rating on Paylocity (PCTY). The company’s shares closed last Thursday at $191.02, close to its 52-week high of $207.67.
According to TipRanks.com, Schwartz is a top 25 analyst with an average return of 31.3% and a 77.0% success rate. Schwartz covers the Technology sector, focusing on stocks such as Bill.com Holdings, RingCentral, and Salesforce.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Paylocity with a $179.89 average price target.
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Based on Paylocity’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $131 million and net profit of $4.95 million. In comparison, last year the company earned revenue of $120 million and had a net profit of $10.24 million.
Based on the recent corporate insider activity of 104 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PCTY in relation to earlier this year.
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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.
