Paylocity Holding Corporation (NASDAQ:PCTY – Get Free Report) Director Steven Sarowitz sold 7,000 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $180.46, for a total transaction of $1,263,220.00. Following the completion of the transaction, the director owned 4,341,395 shares in the company, valued at approximately $783,448,141.70. This trade represents a 0.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Paylocity Stock Performance
PCTY opened at $178.22 on Friday. Paylocity Holding Corporation has a 12-month low of $92.99 and a 12-month high of $181.57. The company has a current ratio of 1.04, a quick ratio of 1.09 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $9.26 billion, a PE ratio of 30.22, a P/E/G ratio of 2.04 and a beta of 0.43. The firm has a 50 day moving average of $158.32 and a two-hundred day moving average of $128.30.
Paylocity (NASDAQ:PCTY – Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The software maker reported $2.09 EPS for the quarter, beating the consensus estimate of $1.93 by $0.16. The business had revenue of $451.67 million during the quarter, compared to analysts’ expectations of $443.12 million. Paylocity had a net margin of 15.40% and a return on equity of 27.59%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.75 EPS. On average, analysts anticipate that Paylocity Holding Corporation will post 6.94 EPS for the current year.
Institutional Investors Weigh In On Paylocity
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Paylocity in the 2nd quarter valued at $430,315,000. Jupiter Topco LLC acquired a new stake in Paylocity during the second quarter valued at $70,540,000. Amundi grew its position in Paylocity by 9.5% during the second quarter. Amundi now owns 663,449 shares of the software maker’s stock valued at $69,350,000 after buying an additional 57,291 shares during the period. Van Berkom & Associates Inc. grew its position in Paylocity by 17.8% during the first quarter. Van Berkom & Associates Inc. now owns 616,407 shares of the software maker’s stock valued at $66,597,000 after buying an additional 93,065 shares during the period. Finally, GW&K Investment Management LLC increased its holdings in Paylocity by 16.6% in the third quarter. GW&K Investment Management LLC now owns 386,143 shares of the software maker’s stock valued at $55,053,000 after buying an additional 55,005 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.
Wall Street Analysts Forecast Growth
PCTY has been the subject of a number of research reports. Zacks Research downgraded shares of Paylocity from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Barclays increased their price target on Paylocity from $162.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Friday, November 6th. BMO Capital Markets increased their price target on Paylocity from $143.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. BTIG Research lifted their price objective on Paylocity from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 6th. Finally, KeyCorp boosted their price objective on Paylocity from $178.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $177.82.
View Our Latest Research Report on PCTY
About Paylocity
Paylocity Holding Corporation provides cloud-based human capital management and payroll software to businesses in the United States. Its platform brings together tools that help employers manage payroll, human resources, benefits, and workforce operations. Products and services include payroll processing, benefits administration, time and labor management, talent acquisition and development, employee communications, and expense management. The platform is designed to help organizations streamline administrative work and support employees and managers through a unified system.
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