Paylocity Holding (NASDAQ:PCTY) CEO Steven R. Beauchamp sold 80,000 shares of Paylocity stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $55.37, for a total value of $4,429,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of NASDAQ PCTY opened at $57.59 on Friday. The stock has a market capitalization of $2.94 billion, a PE ratio of 383.93, a P/E/G ratio of 6.98 and a beta of 1.99. Paylocity Holding has a fifty-two week low of $55.41 and a fifty-two week high of $56.36.
Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, May 3rd. The software maker reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.39. The company had revenue of $113.41 million during the quarter, compared to analysts’ expectations of $110.74 million. Paylocity had a return on equity of 11.74% and a net margin of 10.17%. Paylocity’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 EPS. sell-side analysts expect that Paylocity Holding will post 0.36 earnings per share for the current fiscal year.
Several analysts have issued reports on PCTY shares. BidaskClub raised Paylocity from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. William Blair reissued an “outperform” rating on shares of Paylocity in a research note on Friday, February 9th. Zacks Investment Research raised Paylocity from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. SunTrust Banks raised Paylocity from a “hold” rating to a “buy” rating and dropped their price target for the company from $52.72 to $45.00 in a research note on Monday, March 12th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $65.00 price target (up previously from $60.00) on shares of Paylocity in a research note on Thursday, March 15th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $55.33.
Several hedge funds and other institutional investors have recently made changes to their positions in PCTY. We Are One Seven LLC grew its holdings in shares of Paylocity by 431.9% in the 1st quarter. We Are One Seven LLC now owns 2,404 shares of the software maker’s stock valued at $123,000 after acquiring an additional 1,952 shares in the last quarter. Cobblestone Capital Advisors LLC NY bought a new position in shares of Paylocity in the 1st quarter valued at about $207,000. Koch Industries Inc. bought a new position in shares of Paylocity in the 1st quarter valued at about $212,000. Parametrica Management Ltd bought a new position in shares of Paylocity in the 1st quarter valued at about $254,000. Finally, Fortaleza Asset Management Inc. bought a new position in shares of Paylocity in the 4th quarter valued at about $255,000. Institutional investors own 63.07% of the company’s stock.
Paylocity Company Profile
Paylocity Holding Corporation provides cloud-based payroll and human capital management (HCM) software solutions for medium-sized organizations in the United States. It offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management and HR compliance and reporting; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.
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