Paylocity Got Some Good News

By Jason Carr

In a report released today, Corey Greendale from First Analysis upgraded Paylocity (NASDAQ: PCTY) to Buy, with a price target of $48. The company’s shares opened today at $32.54.

According to TipRanks.com, Greendale is a 2-star analyst with an average return of 2.4% and a 33.3% success rate. Greendale covers the Services sector, focusing on stocks such as ITT Educational Services, Career Education Corp., and Strayer Education.

Paylocity has an analyst consensus of Moderate Buy.

The company has a one year high of $49.65 and a one year low of $24.00. Currently, Paylocity has an average volume of 223.9K.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. Most recently, in June 2016, Michael Haske, the SVP of Sales & Marketing of PCTY sold 60,000 shares for a total of $2,335,506.

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.