Paylocity Holding Corp (NASDAQ:PCTY) Director Sells $480,050.80 in Stock

Paylocity Holding Corp (NASDAQ:PCTY) Director Ronald V. Waters sold 4,516 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $106.30, for a total transaction of $480,050.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

PCTY stock traded down $6.21 during midday trading on Wednesday, reaching $98.24. The company had a trading volume of 378,502 shares, compared to its average volume of 333,055. Paylocity Holding Corp has a 1 year low of $53.46 and a 1 year high of $111.61. The company has a market cap of $5.86 billion, a P/E ratio of 90.96, a P/E/G ratio of 6.14 and a beta of 1.69. The company’s 50-day moving average is $102.09.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, August 8th. The software maker reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.27. Paylocity had a net margin of 11.57% and a return on equity of 19.10%. The business had revenue of $120.37 million during the quarter, compared to analysts’ expectations of $117.51 million. During the same quarter in the previous year, the company earned $0.11 EPS. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Paylocity Holding Corp will post 0.9 EPS for the current fiscal year.

PCTY has been the subject of several recent analyst reports. Jefferies Financial Group boosted their price objective on shares of Paylocity to $115.00 in a research note on Thursday, August 8th. Raymond James boosted their price objective on shares of Paylocity from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, May 17th. Craig Hallum reaffirmed a “hold” rating and set a $97.00 price objective (up previously from $78.00) on shares of Paylocity in a research note on Friday, May 3rd. Stifel Nicolaus boosted their price objective on shares of Paylocity from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Cantor Fitzgerald initiated coverage on shares of Paylocity in a research note on Tuesday, June 18th. They set an “overweight” rating for the company. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $103.58.

A number of hedge funds have recently added to or reduced their stakes in PCTY. Wasatch Advisors Inc. lifted its holdings in shares of Paylocity by 9.3% in the 1st quarter. Wasatch Advisors Inc. now owns 2,008,033 shares of the software maker’s stock worth $179,096,000 after acquiring an additional 171,514 shares during the last quarter. TimesSquare Capital Management LLC lifted its holdings in shares of Paylocity by 4.5% in the 2nd quarter. TimesSquare Capital Management LLC now owns 1,476,188 shares of the software maker’s stock worth $138,496,000 after acquiring an additional 63,940 shares during the last quarter. FMR LLC lifted its holdings in shares of Paylocity by 19.5% in the 4th quarter. FMR LLC now owns 846,032 shares of the software maker’s stock worth $50,940,000 after acquiring an additional 138,231 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Paylocity by 636.8% in the 2nd quarter. Invesco Ltd. now owns 757,846 shares of the software maker’s stock worth $71,101,000 after acquiring an additional 654,996 shares during the last quarter. Finally, Conestoga Capital Advisors LLC lifted its holdings in shares of Paylocity by 2.5% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 603,401 shares of the software maker’s stock worth $56,611,000 after acquiring an additional 14,764 shares during the last quarter. 64.43% of the stock is owned by institutional investors and hedge funds.

About Paylocity

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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