Paylocity Holding Corporation (NASDAQ:PCTY - Get Free Report) Director Steven Sarowitz sold 8,080 shares of the business's stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $176.57, for a total transaction of $1,426,685.60. Following the sale, the director directly owned 4,390,315 shares in the company, valued at $775,197,919.55. The trade was a 0.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Paylocity Price Performance
Shares of PCTY opened at $176.46 on Tuesday. Paylocity Holding Corporation has a fifty-two week low of $92.99 and a fifty-two week high of $178.53. The firm's 50-day simple moving average is $152.62 and its two-hundred day simple moving average is $126.31. The stock has a market cap of $9.21 billion, a PE ratio of 31.03, a price-to-earnings-growth ratio of 2.10 and a beta of 0.50. 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 (NASDAQ:PCTY - Get Free Report) last released its earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.22. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The firm had revenue of $444.73 million during the quarter, compared to analyst estimates of $431.46 million. During the same period last year, the business earned $1.56 earnings per share. The business's revenue was up 11.0% on a year-over-year basis. Analysts anticipate that Paylocity Holding Corporation will post 6.92 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Paylocity
A number of hedge funds have recently bought and sold shares of the business. Optiver Holding B.V. lifted its stake in Paylocity by 5,925.0% during the 1st quarter. Optiver Holding B.V. now owns 241 shares of the software maker's stock valued at $26,000 after acquiring an additional 237 shares during the period. Global Retirement Partners LLC bought a new stake in shares of Paylocity in the second quarter worth approximately $27,000. Basecamp Wealth Advisors LLC grew its stake in shares of Paylocity by 4,250.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker's stock worth $28,000 after acquiring an additional 255 shares during the period. Elevation Wealth Partners LLC grew its stake in shares of Paylocity by 500.0% in the second quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker's stock worth $36,000 after acquiring an additional 285 shares during the period. Finally, Parallel Advisors LLC raised its holdings in shares of Paylocity by 58.8% during the first quarter. Parallel Advisors LLC now owns 451 shares of the software maker's stock valued at $49,000 after purchasing an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.
Analyst Upgrades and Downgrades
PCTY has been the topic of several analyst reports. Wall Street Zen downgraded Paylocity from a "buy" rating to a "hold" rating in a report on Saturday. Robert W. Baird set a $201.00 price target on Paylocity in a research report on Wednesday, August 5th. Barclays increased their price objective on shares of Paylocity from $154.00 to $162.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 13th. BTIG Research raised their price objective on shares of Paylocity from $180.00 to $200.00 and gave the company a "buy" rating in a research note on Monday. Finally, Zacks Research lowered shares of Paylocity from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Twelve equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $167.88.
Check Out Our Latest Stock Analysis on Paylocity
About Paylocity
(
Get Free Report)
Paylocity Holding Corporation (NASDAQ:PCTY) provides cloud-based human capital management (HCM) and payroll software for organizations. Its platform is designed to help employers manage payroll, human resources, employee benefits, talent acquisition, onboarding, performance, learning, and workforce administration through an integrated system.
The company also offers tools for time and labor management, scheduling, employee communications, engagement, surveys, expense management, and other workplace activities.
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