Paylocity Holding Corporation (NASDAQ:PCTY - Get Free Report) Director Kenneth Robinson sold 800 shares of the firm's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $158.41, for a total transaction of $126,728.00. Following the sale, the director directly owned 6,745 shares in the company, valued at $1,068,475.45. The trade was a 10.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Paylocity Price Performance
NASDAQ:PCTY opened at $160.22 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.09. The company has a 50 day moving average price of $132.54 and a 200-day moving average price of $116.57. Paylocity Holding Corporation has a 1-year low of $92.99 and a 1-year high of $180.86. The firm has a market cap of $8.50 billion, a price-to-earnings ratio of 32.37 and a beta of 0.48.
Paylocity (NASDAQ:PCTY - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.22. The firm had revenue of $444.73 million for the quarter, compared to the consensus estimate of $431.46 million. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The firm's quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.56 earnings per share. Equities research analysts forecast that Paylocity Holding Corporation will post 6.92 EPS for the current year.
Analyst Ratings Changes
Several brokerages recently weighed in on PCTY. Robert W. Baird set a $201.00 price target on Paylocity in a research note on Wednesday, August 5th. BMO Capital Markets increased their price target on Paylocity from $143.00 to $175.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Barclays raised their price objective on Paylocity from $128.00 to $154.00 and gave the company an "equal weight" rating in a report on Wednesday, August 5th. Weiss Ratings upgraded Paylocity from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. Finally, Truist Financial reduced their target price on Paylocity from $180.00 to $165.00 and set a "buy" rating for the company in a research note on Monday, June 29th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $160.53.
Get Our Latest Research Report on Paylocity
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System lifted its position in shares of Paylocity by 18.9% in the first quarter. California State Teachers Retirement System now owns 49,614 shares of the software maker's stock valued at $5,360,000 after acquiring an additional 7,891 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of Paylocity in the second quarter worth approximately $54,906,000. BlackRock Inc. purchased a new stake in shares of Paylocity during the second quarter worth approximately $430,315,000. UBS Group AG raised its stake in Paylocity by 38.3% in the 4th quarter. UBS Group AG now owns 415,879 shares of the software maker's stock valued at $63,422,000 after purchasing an additional 115,111 shares during the last quarter. Finally, Ieq Capital LLC acquired a new position in Paylocity in the 2nd quarter valued at $20,119,000. 94.76% of the stock is owned by hedge funds and other institutional investors.
Paylocity Company Profile
(
Get Free Report)
Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company's integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.
In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.
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