Paylocity Holding Corporation (PCTY) has risen sharply, recording gains of 1.88% in the past 4 weeks. However, the stock has corrected -3.62% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 0.84% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 0.77% and the 50-Day Moving Average is 5.95%. Paylocity Holding Corporation (NASDAQ:PCTY): On Fridays trading session , Opening price of the stock was $45 with an intraday high of $45.74. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $43.75. However, the stock managed to close at $45.54, a loss of 0.18% for the day. On the previous day, the stock had closed at $45.62. The total traded volume of the day was 522,571 shares.
The company Insiders own 60.8% of Paylocity Holding Corporation shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -5.98% . Institutional Investors own 63.11% of Paylocity Holding Corporation shares. During last six month period, the net percent change held by insiders has seen a change of -8.08%. Also, Deutsche Bank maintains its view on Paylocity Holding Corporation (NASDAQ:PCTY) according to the research report released by the firm to its investors. The shares have now been rated Buy by the stock experts at the ratings house. Deutsche Bank raises the price target from $52 per share to $55 per share on Paylocity Holding Corporation. The rating by the firm was issued on August 10, 2016.
Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (HCM), software solutions for medium-sized organizations. The Companys 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 Companys 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.