Paylocity Holding Corporation (NASDAQ:PCTY) insider Steven R. Beauchamp sold 50,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $46.38, for a total value of $2,319,000.00. Following the completion of the transaction, the insider now directly owns 2,218,486 shares of the company’s stock, valued at approximately $102,893,380.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Paylocity Holding Corporation (NASDAQ PCTY) opened at 45.05 on Friday. The company has a market cap of $2.33 billion, a PE ratio of 375.42 and a beta of 2.26. Paylocity Holding Corporation has a 52-week low of $29.69 and a 52-week high of $49.65. The firm has a 50-day moving average price of $45.65 and a 200-day moving average price of $41.74.
Paylocity Holding Corporation (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, August 10th. The software maker reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.04. Paylocity Holding Corporation had a return on equity of 6.13% and a net margin of 2.24%. The firm had revenue of $76.10 million for the quarter, compared to analysts’ expectations of $73.79 million. During the same quarter last year, the firm posted ($0.01) EPS. The company’s revenue was up 27.3% compared to the same quarter last year. On average, analysts forecast that Paylocity Holding Corporation will post $0.79 EPS for the current year.
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Several hedge funds have recently added to or reduced their stakes in PCTY. Renaissance Technologies LLC boosted its stake in Paylocity Holding Corporation by 165.9% in the fourth quarter. Renaissance Technologies LLC now owns 67,900 shares of the software maker’s stock valued at $2,038,000 after buying an additional 42,360 shares during the last quarter. Norges Bank acquired a new stake in Paylocity Holding Corporation during the fourth quarter valued at $1,200,000. Teachers Advisors LLC boosted its stake in Paylocity Holding Corporation by 5.7% in the fourth quarter. Teachers Advisors LLC now owns 35,812 shares of the software maker’s stock valued at $1,075,000 after buying an additional 1,939 shares during the last quarter. Bank of Montreal Can boosted its stake in Paylocity Holding Corporation by 29.2% in the first quarter. Bank of Montreal Can now owns 3,377 shares of the software maker’s stock valued at $130,000 after buying an additional 764 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. boosted its stake in Paylocity Holding Corporation by 38.0% in the first quarter. Independent Portfolio Consultants Inc. now owns 6,005 shares of the software maker’s stock valued at $232,000 after buying an additional 1,655 shares during the last quarter. 62.97% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on the company. Bank of America Corporation reaffirmed a “buy” rating and issued a $47.00 price target (down previously from $50.00) on shares of Paylocity Holding Corporation in a research note on Friday, August 11th. Raymond James Financial, Inc. set a $55.00 price target on Paylocity Holding Corporation and gave the company a “buy” rating in a research note on Wednesday, August 9th. Mizuho reaffirmed a “hold” rating and issued a $45.00 price target on shares of Paylocity Holding Corporation in a research note on Thursday, August 10th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $55.00 price target (up previously from $50.00) on shares of Paylocity Holding Corporation in a research note on Friday, August 11th. Finally, BidaskClub downgraded Paylocity Holding Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $51.17.
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.
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