Paylocity Holding Corp (NASDAQ:PCTY) CEO Steven R. Beauchamp sold 6,742 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $50.13, for a total value of $337,976.46. Following the completion of the sale, the chief executive officer now owns 2,180,425 shares of the company’s stock, valued at $109,304,705.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Paylocity Holding Corp (NASDAQ:PCTY) opened at $49.99 on Friday. The company has a market capitalization of $2,607.99, a PE ratio of 225.73, a P/E/G ratio of 6.52 and a beta of 2.11. Paylocity Holding Corp has a 12-month low of $29.69 and a 12-month high of $53.96.
Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, November 2nd. The software maker reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.17. The firm had revenue of $81.50 million during the quarter, compared to analyst estimates of $80.88 million. Paylocity had a return on equity of 7.98% and a net margin of 3.11%. The company’s revenue was up 25.4% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. equities research analysts expect that Paylocity Holding Corp will post 0.33 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in PCTY. Ameritas Investment Partners Inc. increased its position in Paylocity by 22.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,282 shares of the software maker’s stock worth $103,000 after purchasing an additional 421 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Paylocity by 562.6% during the second quarter. BNP Paribas Arbitrage SA now owns 3,293 shares of the software maker’s stock worth $149,000 after buying an additional 2,796 shares during the last quarter. Nomura Holdings Inc. bought a new position in Paylocity during the second quarter worth about $208,000. GSA Capital Partners LLP bought a new position in Paylocity during the third quarter worth about $211,000. Finally, Jane Street Group LLC bought a new position in Paylocity during the third quarter worth about $260,000. Hedge funds and other institutional investors own 59.78% of the company’s stock.
A number of analysts have recently weighed in on the company. Bank of America raised their target price on Paylocity from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, October 24th. SunTrust Banks restated a “hold” rating and issued a $47.00 target price on shares of Paylocity in a research note on Friday, November 3rd. Robert W. Baird raised their target price on Paylocity from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Mizuho restated a “hold” rating and issued a $45.00 target price on shares of Paylocity in a research note on Thursday, October 12th. Finally, TheStreet upgraded Paylocity from a “c” rating to a “b-” rating in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. Paylocity has a consensus rating of “Hold” and an average target price of $52.92.
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Paylocity Company Profile
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.
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