Paylocity Holding Corp (PCTY) is Downgraded by First Analysis Sec to Equal-Weight, Price Target at $42

Paylocity Holding Corp (PCTY) was Downgraded by First Analysis Sec to ” Equal-Weight” and the brokerage firm has set the Price Target at $42. Earlier the firm had a rating of “Overweight ” on the company shares. First Analysis Sec advised their investors in a research report released on Jul 8, 2016.

Many Wall Street Analysts have commented on Paylocity Holding Corp. Shares were Reiterated by Stifel on May 6, 2016 to “Buy” and Lowered the Price Target to $ 43 from a previous price target of $47 .

On the company’s financial health, Paylocity Holding Corp reported $0.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.14. The company had revenue of $70.57 million for the quarter, compared to analysts expectations of $67.26 million. The company’s revenue was up 49.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS.

Paylocity Holding Corp closed down -1.13 points or -2.59% at $42.48 with 2,58,997 shares getting traded on Tuesday. Post opening the session at $43.41, the shares hit an intraday low of $41.7998 and an intraday high of $43.79 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Jun 7, 2016, Steven R Beauchamp (President and CEO) sold 20,000 shares at $40.01 per share price. According to the SEC, on Jun 7, 2016, Michael R Haske (Senior VP of Sales & Marketing) sold 60,000 shares at $39.07 per share price. On May 26, 2016, Peter J Mcgrail (Chief Financial Officer) sold 5,000 shares at $35.90 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.

Paylocity Holding Corp

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