Paylocity Holding Corp (NASDAQ:PCTY) Director Steven I. Sarowitz sold 63,540 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $45.17, for a total value of $2,870,101.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Paylocity Holding Corp (NASDAQ:PCTY) traded up $0.24 on Thursday, hitting $46.12. The stock had a trading volume of 234,591 shares, compared to its average volume of 250,141. The firm has a market cap of $2,394.52, a price-to-earnings ratio of 209.64, a P/E/G ratio of 6.85 and a beta of 2.09. Paylocity Holding Corp has a 12 month low of $34.13 and a 12 month high of $53.96.
Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, February 8th. The software maker reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.04. The company had revenue of $86.00 million for the quarter, compared to analyst estimates of $85.03 million. Paylocity had a return on equity of 8.93% and a net margin of 3.57%. Paylocity’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS. sell-side analysts forecast that Paylocity Holding Corp will post 0.3 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PCTY. TIAA CREF Investment Management LLC grew its holdings in shares of Paylocity by 21.4% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 69,862 shares of the software maker’s stock worth $3,156,000 after purchasing an additional 12,320 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Paylocity by 28.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 47,824 shares of the software maker’s stock worth $2,160,000 after buying an additional 10,454 shares during the last quarter. Nationwide Fund Advisors lifted its position in shares of Paylocity by 17.5% during the 2nd quarter. Nationwide Fund Advisors now owns 14,706 shares of the software maker’s stock worth $664,000 after buying an additional 2,193 shares during the last quarter. UBS Asset Management Americas Inc. bought a new stake in shares of Paylocity during the 2nd quarter worth $316,000. Finally, Northern Trust Corp lifted its position in shares of Paylocity by 13.6% during the 2nd quarter. Northern Trust Corp now owns 383,264 shares of the software maker’s stock worth $17,316,000 after buying an additional 45,948 shares during the last quarter. 60.39% of the stock is currently owned by institutional investors.
A number of research analysts have commented on PCTY shares. TheStreet raised Paylocity from a “c” rating to a “b-” rating in a report on Friday, November 3rd. Zacks Investment Research raised Paylocity from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Tuesday, January 2nd. BidaskClub raised Paylocity from a “sell” rating to a “hold” rating in a report on Tuesday, December 19th. Dougherty & Co started coverage on Paylocity in a report on Tuesday, December 19th. They issued a “neutral” rating on the stock. Finally, Robert W. Baird upped their price objective on Paylocity from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Paylocity currently has a consensus rating of “Buy” and an average price target 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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