Paylocity Holding Corp (NASDAQ:PCTY) SVP Edward W. Gaty sold 5,609 shares of the firm’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $67.65, for a total transaction of $379,448.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
NASDAQ PCTY opened at $64.86 on Thursday. The firm has a market capitalization of $3.42 billion, a P/E ratio of 209.23, a P/E/G ratio of 5.51 and a beta of 2.18. Paylocity Holding Corp has a 12 month low of $41.15 and a 12 month high of $88.47.
Paylocity (NASDAQ:PCTY) last posted its earnings results on Thursday, November 1st. The software maker reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.02. The firm had revenue of $100.50 million for the quarter, compared to the consensus estimate of $98.37 million. Paylocity had a net margin of 12.08% and a return on equity of 12.35%. The company’s revenue was up 23.3% on a year-over-year basis. During the same period last year, the firm posted $0.15 EPS. As a group, research analysts predict that Paylocity Holding Corp will post 0.59 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cutler Group LP purchased a new position in Paylocity during the 2nd quarter worth $100,000. Tower Research Capital LLC TRC purchased a new position in Paylocity during the 2nd quarter worth $102,000. NumerixS Investment Technologies Inc grew its position in Paylocity by 2,000.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 2,100 shares of the software maker’s stock worth $124,000 after purchasing an additional 2,000 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Paylocity during the 3rd quarter worth $143,000. Finally, Quantbot Technologies LP purchased a new position in Paylocity during the 3rd quarter worth $168,000. 64.11% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on PCTY. Zacks Investment Research lowered shares of Paylocity from a “hold” rating to a “sell” rating in a report on Thursday, November 22nd. ValuEngine raised shares of Paylocity from a “hold” rating to a “buy” rating in a research report on Monday, November 12th. Robert W. Baird increased their target price on shares of Paylocity from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Friday, November 2nd. Bank of America dropped their target price on shares of Paylocity from $91.00 to $78.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. Finally, Jefferies Financial Group dropped their target price on shares of Paylocity to $79.00 and set a “hold” rating on the stock in a research report on Friday, November 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $68.36.
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Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; 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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