Price Change to Note: What Next for Paylocity Holding Corp Stock After Today’s Significant Decline?

Price Change to Note: What Next for Paylocity Holding Corp Stock After Today's Significant Decline?

The stock of Paylocity Holding Corp (NASDAQ:PCTY) is a huge mover today! About 2.27 million shares traded hands or 1116.28% up from the average. Paylocity Holding Corp (NASDAQ:PCTY) has risen 18.08% since April 4, 2016 and is uptrending. It has outperformed by 16.99% the S&P500.
The move comes after 8 months negative chart setup for the $1.88 billion company. It was reported on Nov, 4 by Barchart.com. We have $33.12 PT which if reached, will make NASDAQ:PCTY worth $169.20M less.

Paylocity Holding Corp (NASDAQ:PCTY) Ratings Coverage

Out of 12 analysts covering Paylocity (NASDAQ:PCTY), 8 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 67% are positive. Paylocity has been the topic of 18 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Tuesday, March 8 by Craig Hallum. The rating was maintained by Deutsche Bank with “Buy” on Wednesday, August 10. Stifel Nicolaus initiated Paylocity Holding Corp (NASDAQ:PCTY) rating on Tuesday, September 29. Stifel Nicolaus has “Buy” rating and $40 price target. Northland Capital maintained the stock with “Outperform” rating in Friday, November 20 report. The stock of Paylocity Holding Corp (NASDAQ:PCTY) has “Outperform” rating given on Friday, November 6 by Northland Capital. The firm earned “Buy” rating on Friday, May 6 by Stifel Nicolaus. First Analysis downgraded the stock to “Equal-Weight” rating in Friday, July 8 report. Needham maintained Paylocity Holding Corp (NASDAQ:PCTY) on Friday, August 14 with “Buy” rating. On Tuesday, April 19 the stock rating was initiated by UBS with “Neutral”. The firm earned “Outperform” rating on Thursday, January 7 by Robert W. Baird.

According to Zacks Investment Research, “Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations. It offers Paylocity Web Pay, Paylocity HR, Paylocity Impressions, Performance Management, Self-Service HR Portals, Paylocity Web Time and Paylocity Web Benefits. Paylocity Holding Corporation is headquartered in Arlington Heights, Illinois.”

Insitutional Activity: The institutional sentiment increased to 1.52 in 2016 Q2. Its up 0.08, from 1.44 in 2016Q1. The ratio improved, as 14 funds sold all Paylocity Holding Corp shares owned while 34 reduced positions. 25 funds bought stakes while 48 increased positions. They now own 27.47 million shares or 7.67% more from 25.51 million shares in 2016Q1.
Kornitzer Cap Management Ks accumulated 0.35% or 447,714 shares. Bank Of Montreal Can last reported 1,668 shares in the company. Moreover, Independent Port Consultants Inc has 0.07% invested in Paylocity Holding Corp (NASDAQ:PCTY) for 5,385 shares. Envestnet Asset Mngmt Inc last reported 0% of its portfolio in the stock. Keybank Association Oh accumulated 0% or 14,394 shares. Bank & Trust Of New York Mellon Corp has invested 0% of its portfolio in Paylocity Holding Corp (NASDAQ:PCTY). Teachers Advsr last reported 34,340 shares in the company. Ameriprise Financial last reported 0% of its portfolio in the stock. Utd Serv Automobile Association has invested 0% of its portfolio in Paylocity Holding Corp (NASDAQ:PCTY). Timessquare Capital Limited Liability Company holds 937,600 shares or 0.27% of its portfolio. Voya Management Llc accumulated 0% or 8,979 shares. Sumitomo Mitsui Asset Mgmt Limited accumulated 65,035 shares or 0.09% of the stock. Manufacturers Life Insur Co The accumulated 0% or 15,535 shares. Federated Invsts Inc Pa accumulated 1,733 shares or 0% of the stock. Td Asset Mgmt accumulated 79,900 shares or 0.01% of the stock.

More notable recent Paylocity Holding Corp (NASDAQ:PCTY) news were published by: Fool.com which released: “Why Paylocity Holding Corporation Shares Dropped Today” on November 04, 2016, also Nasdaq.com with their article: “RSI Alert: Paylocity Holding (PCTY) Now Oversold” published on November 04, 2016, Nasdaq.com published: “Commit To Purchase Paylocity Holding Corp At $35, Earn 10.2% Annualized Using …” on November 01, 2016. More interesting news about Paylocity Holding Corp (NASDAQ:PCTY) were released by: Zacks.com and their article: “Paylocity Holding (PCTY) Q1 Earnings: What’s in the Cards?” published on November 01, 2016 as well as Dailyherald.com‘s news article titled: “Paylocity fiscal 1Q revenues up 44 percent” with publication date: November 04, 2016.

PCTY Company Profile

Paylocity Holding Corporation, incorporated on November 6, 2013, is a cloud well-known provider of payroll and human capital management (HCM), software solutions for medium-sized organizations. The Company’s services are provided in a software-as-a-Service (SaaS) delivery model utilizing the Company’s cloud platform. The cloud platform provides a suite of applications using a multi-tenant architecture. The cloud platform features a suite of unified payroll and HCM applications. The Company, through cloud platform, offers various products, which include Paylocity Web Pay, Paylocity HR, Paylocity Affordable Care Act Enhanced, Paylocity Impressions, Performance Management, Self-Service HR Portals, Paylocity Recruiting, Paylocity Web Time, Paylocity Web Onboarding, and Paylocity Web Benefits and Paylocity Enterprise Benefits, Powered by bswift.

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