Paylocity Holding Corporation (NASDAQ:PCTY - Get Free Report) Director Steven Sarowitz sold 300 shares of Paylocity stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $180.14, for a total value of $54,042.00. Following the completion of the sale, the director directly owned 4,341,095 shares of the company's stock, valued at approximately $782,004,853.30. This represents a 0.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Paylocity Stock Performance
NASDAQ PCTY opened at $178.92 on Friday. Paylocity Holding Corporation has a twelve month low of $92.99 and a twelve month high of $181.57. The business's 50-day moving average price is $157.85 and its 200 day moving average price is $128.12. The company has a current ratio of 1.04, a quick ratio of 1.09 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $9.30 billion, a PE ratio of 34.67, a price-to-earnings-growth ratio of 2.05 and a beta of 0.43.
Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The software maker reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.93 by $0.16. The company had revenue of $451.67 million for the quarter, compared to the consensus estimate of $443.12 million. Paylocity had a net margin of 15.40% and a return on equity of 27.59%. Paylocity's revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.75 earnings per share. On average, research analysts predict that Paylocity Holding Corporation will post 6.94 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Paylocity in the second quarter valued at $430,315,000. Jupiter Topco LLC purchased a new stake in Paylocity during the 2nd quarter worth $70,540,000. Deutsche Bank AG purchased a new stake in Paylocity during the 2nd quarter worth $54,906,000. Bank of America Corp DE acquired a new position in Paylocity in the 2nd quarter worth $54,867,000. Finally, Amundi lifted its holdings in Paylocity by 143.3% in the 1st quarter. Amundi now owns 606,158 shares of the software maker's stock worth $65,489,000 after buying an additional 357,001 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
PCTY has been the topic of a number of research reports. Citigroup raised their target price on shares of Paylocity from $208.00 to $214.00 and gave the company a "buy" rating in a research note on Monday. Jefferies Financial Group reaffirmed a "buy" rating and set a $165.00 price target on shares of Paylocity in a research report on Wednesday, August 5th. Guggenheim increased their price target on Paylocity from $180.00 to $200.00 and gave the company a "buy" rating in a report on Friday, October 23rd. BMO Capital Markets raised their price objective on Paylocity from $143.00 to $175.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Finally, Zacks Research cut Paylocity from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $177.82.
Read Our Latest Stock Analysis on PCTY
About Paylocity
(
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Paylocity Holding Corporation provides cloud-based human capital management and payroll software to businesses in the United States. Its platform brings together tools that help employers manage payroll, human resources, benefits, and workforce operations. Products and services include payroll processing, benefits administration, time and labor management, talent acquisition and development, employee communications, and expense management. The platform is designed to help organizations streamline administrative work and support employees and managers through a unified system.
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