Key Points
- Paylocity Chairman Steven Beauchamp sold 15,000 shares at an average price of $165.22, worth approximately $2.48 million. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his ownership by 1.19%.
- Paylocity’s shares traded near their 12-month high at $166.32, while the company reported quarterly EPS of $1.84 and revenue of $444.73 million, exceeding analyst expectations and representing 11% year-over-year revenue growth.
- Analysts maintain a “Moderate Buy” consensus, with an average price target of $163.76, while institutional investors own 94.76% of the company’s outstanding shares.
Paylocity Holding Corporation (NASDAQ:PCTY - Get Free Report) Chairman Steven Beauchamp sold 15,000 shares of the company's stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $165.22, for a total value of $2,478,300.00. Following the sale, the chairman owned 1,243,389 shares of the company's stock, valued at $205,432,730.58. This trade represents a 1.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Paylocity Stock Up 0.0%
PCTY traded up $0.07 during trading on Friday, hitting $166.32. The stock had a trading volume of 459,494 shares, compared to its average volume of 662,938. The stock has a 50 day simple moving average of $149.68 and a two-hundred day simple moving average of $125.82. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09. Paylocity Holding Corporation has a twelve month low of $92.99 and a twelve month high of $169.09. The company has a market capitalization of $8.82 billion, a PE ratio of 33.60, a PEG ratio of 1.97 and a beta of 0.50.
Paylocity (NASDAQ:PCTY - Get Free Report) last released its earnings results on Tuesday, August 4th. The software maker reported $1.84 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.22. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The company had revenue of $444.73 million during the quarter, compared to analysts' expectations of $431.46 million. During the same period last year, the business earned $1.56 EPS. Paylocity's revenue for the quarter was up 11.0% on a year-over-year basis. On average, research analysts predict that Paylocity Holding Corporation will post 6.92 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several brokerages recently commented on PCTY. KeyCorp boosted their price target on shares of Paylocity from $172.00 to $178.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Robert W. Baird set a $201.00 price objective on shares of Paylocity in a report on Wednesday, August 5th. TD Cowen increased their price objective on shares of Paylocity from $168.00 to $177.00 and gave the company a "buy" rating in a report on Thursday, August 20th. Barclays lifted their target price on shares of Paylocity from $154.00 to $162.00 and gave the company an "equal weight" rating in a research report on Tuesday. Finally, Zacks Research lowered shares of Paylocity from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $163.76.
Check Out Our Latest Stock Report on Paylocity
Hedge Funds Weigh In On Paylocity
Institutional investors have recently bought and sold shares of the company. Curated Wealth Partners LLC acquired a new stake in Paylocity during the third quarter worth $498,000. WealthPlan Investment Management LLC acquired a new position in shares of Paylocity in the 3rd quarter valued at $203,000. Seelaus Asset Management LLC acquired a new position in shares of Paylocity in the 3rd quarter valued at $304,000. Krilogy Financial LLC lifted its stake in shares of Paylocity by 6.5% in the 3rd quarter. Krilogy Financial LLC now owns 6,741 shares of the software maker's stock valued at $1,052,000 after purchasing an additional 410 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC grew its holdings in shares of Paylocity by 19.4% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 7,777 shares of the software maker's stock worth $1,190,000 after purchasing an additional 1,261 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.
About Paylocity
(
Get Free Report)
Paylocity Holding Corporation (NASDAQ:PCTY) provides cloud-based human capital management (HCM) software for organizations and their employees. Its platform is designed to help businesses manage payroll, human resources, employee benefits, workforce administration and related compliance activities through a unified system.
The company's products and services include payroll processing, tax and regulatory support, time and labor management, benefits administration, talent acquisition and management, employee performance tools, expense management, reporting and analytics.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
