Paylocity Holding Corp (NASDAQ:PCTY) Director Jeffrey T. Diehl sold 250,000 shares of the firm’s stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $61.50, for a total value of $15,375,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Paylocity opened at $63.86 on Thursday, MarketBeat reports. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 425.73, a PEG ratio of 7.66 and a beta of 2.00. Paylocity Holding Corp has a 1 year low of $41.15 and a 1 year high of $64.21.
Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, May 3rd. The software maker reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.39. The firm had revenue of $113.41 million during the quarter, compared to analysts’ expectations of $110.74 million. Paylocity had a return on equity of 11.74% and a net margin of 10.17%. The company’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 EPS. equities analysts forecast that Paylocity Holding Corp will post 0.38 earnings per share for the current year.
Several brokerages recently commented on PCTY. Royal Bank of Canada downgraded Paylocity from an “outperform” rating to a “sector perform” rating and set a $56.00 price objective on the stock. in a research note on Monday, April 23rd. BidaskClub raised Paylocity from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 23rd. ValuEngine raised Paylocity from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price objective (up previously from $60.00) on shares of Paylocity in a research note on Thursday, March 15th. Finally, Stifel Nicolaus raised their price objective on Paylocity from $50.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, May 4th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $55.33.
A number of hedge funds have recently added to or reduced their stakes in PCTY. Principal Financial Group Inc. grew its holdings in shares of Paylocity by 4.5% in the 1st quarter. Principal Financial Group Inc. now owns 21,816 shares of the software maker’s stock valued at $1,117,000 after acquiring an additional 943 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Paylocity by 16.2% in the 4th quarter. California Public Employees Retirement System now owns 8,600 shares of the software maker’s stock valued at $406,000 after acquiring an additional 1,200 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Paylocity by 17.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 8,293 shares of the software maker’s stock valued at $425,000 after acquiring an additional 1,244 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of Paylocity by 8.4% in the 4th quarter. UBS Asset Management Americas Inc. now owns 17,270 shares of the software maker’s stock valued at $814,000 after acquiring an additional 1,339 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its holdings in shares of Paylocity by 0.5% in the 1st quarter. OppenheimerFunds Inc. now owns 302,713 shares of the software maker’s stock valued at $15,508,000 after acquiring an additional 1,427 shares in the last quarter. Hedge funds and other institutional investors own 63.10% of the company’s stock.
Paylocity Company Profile
Paylocity Holding Corporation provides cloud-based payroll and human capital management (HCM) software solutions for medium-sized organizations in the United States. It offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management and HR compliance and reporting; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.
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