What Next for Paylocity Holding Corporation (PCTY) Stock After Making 52-Week High?

July 13, 2018 - By Patrick Harkless

Paylocity Holding Corporation (NASDAQ:PCTY) Logo

Investors sentiment decreased to 1 in Q1 2018. Its down 0.68, from 1.68 in 2017Q4. It dived, as 15 investors sold Paylocity Holding Corporation shares while 54 reduced holdings. 29 funds opened positions while 40 raised stakes. 27.43 million shares or 0.46% more from 27.31 million shares in 2017Q4 were reported.
Eagle Asset Mgmt holds 47,948 shares. Old Comml Bank In invested in 0.01% or 4,301 shares. Moreover, Manufacturers Life Insurance The has 0% invested in Paylocity Holding Corporation (NASDAQ:PCTY). Fifth Third Bancorp, Ohio-based fund reported 1,745 shares. Northern Tru Corp has 0.01% invested in Paylocity Holding Corporation (NASDAQ:PCTY). Voya Inv Management Limited Liability Company invested in 0% or 11,837 shares. Moreover, Wasatch Inc has 1.14% invested in Paylocity Holding Corporation (NASDAQ:PCTY) for 1.73M shares. Moreover, Swiss Bank & Trust has 0% invested in Paylocity Holding Corporation (NASDAQ:PCTY) for 49,750 shares. Hbk Invs L P reported 13,000 shares stake. Zevenbergen Capital Invs Lc reported 602,215 shares stake. 7,293 were accumulated by National Bank & Trust Of Montreal Can. Raymond James Svcs Advsr reported 5,200 shares. State Street holds 0% or 514,894 shares in its portfolio. Barclays Public Ltd Limited Liability Company reported 9,904 shares. Archford Strategies Ltd Liability Co holds 0.36% or 18,080 shares in its portfolio.

The stock of Paylocity Holding Corporation (NASDAQ:PCTY) hit a new 52-week high and has $67.50 target or 5.00 % above today’s $64.29 share price. The 8 months bullish chart indicates low risk for the $3.39B company. The 1-year high was reported on Jul, 13 by Barchart.com. If the $67.50 price target is reached, the company will be worth $169.25 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 0.65% or $0.42 during the last trading session, reaching $64.29. About 98,173 shares traded. Paylocity Holding Corporation (NASDAQ:PCTY) has risen 28.17% since July 13, 2017 and is uptrending. It has outperformed by 15.60% the S&P500.

Analysts await Paylocity Holding Corporation (NASDAQ:PCTY) to report earnings on August, 9. They expect $-0.03 EPS, up 50.00 % or $0.03 from last year’s $-0.06 per share. After $0.38 actual EPS reported by Paylocity Holding Corporation for the previous quarter, Wall Street now forecasts -107.89 % negative EPS growth.

Paylocity Holding Corporation (NASDAQ:PCTY) Ratings Coverage

Among 4 analysts covering Paylocity (NASDAQ:PCTY), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. Paylocity has $60 highest and $48.0 lowest target. $52.75’s average target is -17.95% below currents $64.29 stock price. Paylocity had 7 analyst reports since February 8, 2018 according to SRatingsIntel. The firm has “Outperform” rating given on Monday, May 7 by Robert W. Baird. SunTrust upgraded the stock to “Buy” rating in Monday, March 12 report. As per Thursday, February 8, the company rating was maintained by RBC Capital Markets. The stock of Paylocity Holding Corporation (NASDAQ:PCTY) has “Buy” rating given on Thursday, February 8 by Stifel Nicolaus. Stifel Nicolaus maintained Paylocity Holding Corporation (NASDAQ:PCTY) on Friday, May 4 with “Buy” rating. The company was downgraded on Monday, April 23 by RBC Capital Markets. The stock of Paylocity Holding Corporation (NASDAQ:PCTY) earned “Hold” rating by SunTrust on Thursday, February 8.

More news for Paylocity Holding Corporation (NASDAQ:PCTY) were recently published by: Globenewswire.com, which released: “Paylocity Launches Integration Marketplace” on July 02, 2018. Nasdaq.com‘s article titled: “Paylocity CEO Steve Beauchamp Named a Glassdoor Top CEO in 2018” and published on June 20, 2018 is yet another important article.

Paylocity Holding Corporation provides cloud payroll and human capital management software solutions for medium-sized organizations in the United States. The company has market cap of $3.39 billion. It offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management and HR compliance and reporting; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process. It has a 306.14 P/E ratio. The firm also provides Paylocity Web Benefits and Paylocity Enterprise Benefits, which are benefit management solutions that integrate with insurance carrier systems to provide automated administrative processes and allow users to choose benefit elections and make life event changes online, summarize benefit elections, and perform other benefit-related tasks, as well as enable premium reconciliation, management of voluntary benefits, and reporting.

Paylocity Holding Corporation (NASDAQ:PCTY) Institutional Positions Chart

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