Insider Selling: Paylocity Holding Corp (PCTY) CEO Sells 30,000 Shares of Stock

Paylocity Holding Corp (NASDAQ:PCTY) CEO Steven R. Beauchamp sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $50.02, for a total value of $1,500,600.00. The transaction was disclosed in a filing with the SEC, which is available through this link.

Paylocity Holding Corp (NASDAQ PCTY) opened at $52.72 on Friday. Paylocity Holding Corp has a 12-month low of $34.13 and a 12-month high of $53.96. The company has a market capitalization of $2,720.14, a price-to-earnings ratio of 239.64, a price-to-earnings-growth ratio of 7.78 and a beta of 2.13.

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Paylocity (NASDAQ:PCTY) last issued its earnings results on Thursday, February 8th. The software maker reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.04. Paylocity had a return on equity of 8.93% and a net margin of 3.57%. The business had revenue of $86.00 million during the quarter, compared to analysts’ expectations of $85.03 million. During the same period in the prior year, the business earned $0.10 EPS. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. equities analysts predict that Paylocity Holding Corp will post 0.3 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of Paylocity by 1.7% in the 4th quarter. BlackRock Inc. now owns 1,821,962 shares of the software maker’s stock worth $85,924,000 after buying an additional 30,155 shares during the period. Fred Alger Management Inc. lifted its holdings in shares of Paylocity by 12.1% in the 4th quarter. Fred Alger Management Inc. now owns 1,163,567 shares of the software maker’s stock worth $54,874,000 after buying an additional 125,664 shares during the period. TimesSquare Capital Management LLC lifted its holdings in shares of Paylocity by 7.5% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,120,400 shares of the software maker’s stock worth $52,838,000 after buying an additional 77,900 shares during the period. Wasatch Advisors Inc. lifted its holdings in shares of Paylocity by 24.4% in the 4th quarter. Wasatch Advisors Inc. now owns 1,071,943 shares of the software maker’s stock worth $50,553,000 after buying an additional 210,556 shares during the period. Finally, Standard Life Aberdeen plc purchased a new stake in shares of Paylocity in the 4th quarter worth $46,616,000. Institutional investors and hedge funds own 62.59% of the company’s stock.

Several equities analysts have recently weighed in on the company. BidaskClub raised Paylocity from a “hold” rating to a “buy” rating in a research report on Wednesday. William Blair reissued an “outperform” rating on shares of Paylocity in a research report on Friday, February 9th. Zacks Investment Research raised Paylocity from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. TheStreet downgraded Paylocity from a “b-” rating to a “c+” rating in a research report on Tuesday, December 5th. Finally, Dougherty & Co initiated coverage on Paylocity in a research report on Tuesday, December 19th. They issued a “neutral” rating on the stock. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Paylocity currently has an average rating of “Buy” and a consensus target price of $52.92.

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Paylocity 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.

Insider Buying and Selling by Quarter for Paylocity (NASDAQ:PCTY)

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