Paylocity Holding Corporation (NASDAQ:PCTY) CEO Steven R. Beauchamp sold 5,470 shares of Paylocity Holding Corporation stock in a transaction on Friday, October 6th. The shares were sold at an average price of $50.09, for a total transaction of $273,992.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of Paylocity Holding Corporation (PCTY) opened at 49.98 on Thursday. The company’s 50 day moving average price is $47.91 and its 200 day moving average price is $45.06. Paylocity Holding Corporation has a one year low of $29.69 and a one year high of $50.72. The stock has a market capitalization of $2.59 billion, a P/E ratio of 416.50 and a beta of 2.23.
Paylocity Holding Corporation (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, August 10th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. The company had revenue of $76.10 million during the quarter, compared to the consensus estimate of $73.79 million. Paylocity Holding Corporation had a return on equity of 6.13% and a net margin of 2.24%. The firm’s revenue was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.01) EPS. On average, equities analysts expect that Paylocity Holding Corporation will post $0.79 earnings per share for the current year.
Several equities research analysts have issued reports on PCTY shares. SunTrust Banks, Inc. initiated coverage on shares of Paylocity Holding Corporation in a research note on Monday, June 26th. They set a “hold” rating and a $45.00 target price on the stock. Zacks Investment Research lowered shares of Paylocity Holding Corporation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 4th. JMP Securities restated an “outperform” rating and issued a $54.00 price objective on shares of Paylocity Holding Corporation in a report on Tuesday, July 18th. BidaskClub lowered shares of Paylocity Holding Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Raymond James Financial, Inc. set a $55.00 price objective on shares of Paylocity Holding Corporation and gave the company a “buy” rating in a report on Wednesday, August 9th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $51.46.
A number of institutional investors have recently bought and sold shares of PCTY. Janus Henderson Group PLC acquired a new position in Paylocity Holding Corporation in the 2nd quarter valued at approximately $29,148,000. MARSHALL WACE ASIA Ltd bought a new stake in Paylocity Holding Corporation during the 1st quarter worth approximately $16,054,000. Tudor Investment Corp ET AL grew its position in Paylocity Holding Corporation by 2,737.3% during the 1st quarter. Tudor Investment Corp ET AL now owns 314,709 shares of the software maker’s stock worth $12,157,000 after acquiring an additional 303,617 shares during the last quarter. Blair William & Co. IL grew its position in Paylocity Holding Corporation by 70.1% during the 2nd quarter. Blair William & Co. IL now owns 545,439 shares of the software maker’s stock worth $24,643,000 after acquiring an additional 224,771 shares during the last quarter. Finally, Granahan Investment Management Inc. MA bought a new stake in Paylocity Holding Corporation during the 1st quarter worth approximately $4,936,000. 60.87% of the stock is owned by hedge funds and other institutional investors.
Paylocity Holding Corporation Company Profile
Paylocity Holding Corporation is a cloud-based 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 delivery model utilizing its cloud-based platform. The cloud-based platform provides a suite of applications using a multi-tenant architecture.
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