Bank of America Upgrades Paylocity Holding Corp to Buy

Brokerage firm Bank of America Upgrades its rating on Paylocity Holding Corp(PCTY). The shares have been rated Buy. Previously, the analysts had a Underperform rating on the shares. The rating by Bank of America was issued on Feb 3, 2017.

Paylocity Holding Corp (PCTY) shares turned negative on Tuesdays trading session with the shares closing down -0.11 points or -0.32% at a volume of 3,65,800. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $34.22. The peak price level was also seen at $34.22 while the days lowest was $33.7. Finally the shares closed at $33.89. The 52-week high of the shares is $49.65 while the 52-week low is $24.0001. According to the latest information available, the market cap of the company is $1,743 M.

Paylocity Holding Corp(PCTY) last announced its earnings results on Feb 2, 2017 for Fiscal Year 2017 and Q2.Company reported revenue of $68.654M. Analysts had an estimated revenue of $66.730M. Earnings per share were $0.1. Analysts had estimated an EPS of $0.03.

Several Insider Transactions has been reported to the SEC. On Nov 16, 2016, Peter J Mcgrail (Chief Financial Officer) sold 5,000 shares at $34.28 per share price.Also, On Nov 10, 2016, Steven R Beauchamp (President and CEO) sold 60,000 shares at $37.42 per share price.On Aug 16, 2016, Michael R Haske (Senior VP of Sales & Marketing) sold 100,000 shares at $45.60 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.

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