Paylocity Holding Corporation (NASDAQ:PCTY – Get Free Report) Director Steven Sarowitz sold 8,900 shares of the business’s stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $171.31, for a total value of $1,524,659.00. Following the completion of the sale, the director directly owned 4,354,869 shares of the company’s stock, valued at $746,032,608.39. This represents a 0.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Paylocity Stock Down 0.9%
Shares of PCTY traded down $1.57 during trading hours on Wednesday, hitting $168.50. 524,001 shares of the company were exchanged, compared to its average volume of 769,697. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market cap of $8.79 billion, a PE ratio of 34.04, a PEG ratio of 2.10 and a beta of 0.50. The firm’s 50 day moving average is $153.12 and its 200-day moving average is $126.40. Paylocity Holding Corporation has a 52 week low of $92.99 and a 52 week high of $178.53.
Paylocity (NASDAQ:PCTY – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.22. Paylocity had a return on equity of 27.02% and a net margin of 15.23%. The business had revenue of $444.73 million for the quarter, compared to the consensus estimate of $431.46 million. During the same period last year, the business earned $1.56 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts forecast that Paylocity Holding Corporation will post 6.92 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities analysts have commented on PCTY shares. BTIG Research increased their price target on Paylocity from $180.00 to $200.00 and gave the company a “buy” rating in a report on Monday. TD Cowen lifted their price target on shares of Paylocity from $168.00 to $177.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Citigroup boosted their price objective on shares of Paylocity from $168.00 to $208.00 and gave the stock a “buy” rating in a research note on Tuesday. Guggenheim boosted their price objective on shares of Paylocity from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, October 23rd. Finally, Zacks Research downgraded shares of Paylocity from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $172.82.
Check Out Our Latest Stock Report on PCTY
Hedge Funds Weigh In On Paylocity
Large investors have recently made changes to their positions in the business. Optiver Holding B.V. boosted its stake in Paylocity by 5,925.0% during the 1st quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock valued at $26,000 after purchasing an additional 237 shares during the period. Global Retirement Partners LLC acquired a new stake in Paylocity in the 2nd quarter valued at approximately $27,000. Basecamp Wealth Advisors LLC grew its holdings in Paylocity by 4,250.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock valued at $28,000 after buying an additional 255 shares during the last quarter. Elevation Wealth Partners LLC grew its holdings in Paylocity by 500.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker’s stock valued at $36,000 after buying an additional 285 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in Paylocity by 58.8% in the 1st quarter. Parallel Advisors LLC now owns 451 shares of the software maker’s stock worth $49,000 after buying an additional 167 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.
About Paylocity
Paylocity Holding Corporation (NASDAQ:PCTY) provides cloud-based human capital management (HCM) and payroll software for organizations. Its platform is designed to help employers manage payroll, human resources, employee benefits, talent acquisition, onboarding, performance, learning, and workforce administration through an integrated system.
The company also offers tools for time and labor management, scheduling, employee communications, engagement, surveys, expense management, and other workplace activities.
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