Insider Selling: Paylocity Holding Corporation (PCTY) Insider Sells $1,175,500.00 in Stock

Paylocity Holding Corporation (NASDAQ:PCTY) insider Michael R. Haske sold 25,000 shares of the stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $47.02, for a total transaction of $1,175,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shares of Paylocity Holding Corporation (PCTY) opened at $47.80 on Friday. The stock has a market cap of $2,452.01, a PE ratio of 212.23, a PEG ratio of 6.20 and a beta of 2.24. Paylocity Holding Corporation has a 1 year low of $29.69 and a 1 year high of $53.96.

Paylocity Holding Corporation (NASDAQ:PCTY) last issued its earnings results on Thursday, November 2nd. The software maker reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.17. The firm had revenue of $81.50 million for the quarter, compared to analysts’ expectations of $80.88 million. Paylocity Holding Corporation had a net margin of 3.11% and a return on equity of 7.98%. The firm’s revenue was up 25.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 earnings per share. research analysts anticipate that Paylocity Holding Corporation will post 0.32 earnings per share for the current fiscal year.

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Several brokerages have weighed in on PCTY. Raymond James Financial, Inc. set a $55.00 target price on shares of Paylocity Holding Corporation and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Bank of America Corporation reaffirmed a “buy” rating and set a $47.00 target price (down previously from $50.00) on shares of Paylocity Holding Corporation in a research note on Friday, August 11th. Mizuho reaffirmed a “hold” rating and set a $45.00 target price on shares of Paylocity Holding Corporation in a research note on Thursday, August 10th. Zacks Investment Research lowered shares of Paylocity Holding Corporation from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $55.00 target price (up previously from $50.00) on shares of Paylocity Holding Corporation in a research note on Friday, August 11th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Paylocity Holding Corporation currently has an average rating of “Buy” and an average price target of $52.92.

Large investors have recently modified their holdings of the stock. State of Wisconsin Investment Board acquired a new stake in Paylocity Holding Corporation in the second quarter valued at approximately $3,660,000. Schwab Charles Investment Management Inc. raised its holdings in Paylocity Holding Corporation by 10.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 113,529 shares of the software maker’s stock valued at $5,130,000 after acquiring an additional 10,911 shares in the last quarter. Chicago Equity Partners LLC acquired a new stake in Paylocity Holding Corporation in the second quarter valued at approximately $1,129,000. Bank of America Corp DE raised its holdings in Paylocity Holding Corporation by 13.4% in the first quarter. Bank of America Corp DE now owns 131,015 shares of the software maker’s stock valued at $5,062,000 after acquiring an additional 15,504 shares in the last quarter. Finally, Menta Capital LLC acquired a new stake in Paylocity Holding Corporation in the second quarter valued at approximately $1,270,000. 59.44% of the stock is currently owned by hedge funds and other institutional investors.

About Paylocity Holding Corporation

Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (HCM), software solutions for medium-sized organizations. The Company’s services are provided in a software-as-a-service delivery model utilizing its cloud-based platform. The cloud-based platform provides a suite of applications using a multi-tenant architecture.

Insider Buying and Selling by Quarter for Paylocity Holding Corporation (NASDAQ:PCTY)

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