Paylocity (NASDAQ:PCTY) Chairman Steven Beauchamp Sells 15,000 Shares of Stock

Paylocity Holding Corporation (NASDAQ:PCTY) Chairman Steven Beauchamp sold 15,000 shares of Paylocity stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $165.22, for a total transaction of $2,478,300.00. Following the completion of the sale, the chairman directly owned 1,243,389 shares of the company’s stock, valued at approximately $205,432,730.58. This trade represents a 1.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Stock Performance

PCTY traded up $0.07 during trading on Friday, hitting $166.32. 459,494 shares of the company traded hands, compared to its average volume of 662,938. The firm has a market cap of $8.82 billion, a P/E ratio of 33.60, a price-to-earnings-growth ratio of 1.97 and a beta of 0.50. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a one year low of $92.99 and a one year high of $169.09. The stock’s fifty day moving average is $149.68 and its 200 day moving average is $125.82.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share (EPS) 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 firm had revenue of $444.73 million during the quarter, compared to the consensus estimate of $431.46 million. During the same quarter last year, the company posted $1.56 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities analysts predict that Paylocity Holding Corporation will post 6.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PCTY shares. Robert W. Baird set a $201.00 price target on Paylocity in a research note on Wednesday, August 5th. BMO Capital Markets boosted their price objective on Paylocity from $143.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Cantor Fitzgerald upped their target price on shares of Paylocity from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. KeyCorp raised their price target on Paylocity from $172.00 to $178.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Finally, Truist Financial reduced their price target on shares of Paylocity from $180.00 to $165.00 and set a “buy” rating on the stock in a research report on Monday, June 29th. Twelve investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $163.76.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Curated Wealth Partners LLC bought a new position in shares of Paylocity during the 3rd quarter worth $498,000. WealthPlan Investment Management LLC purchased a new position in shares of Paylocity during the third quarter valued at $203,000. Seelaus Asset Management LLC bought a new stake in shares of Paylocity in the third quarter valued at about $304,000. Krilogy Financial LLC raised its holdings in shares of Paylocity by 6.5% in the third quarter. Krilogy Financial LLC now owns 6,741 shares of the software maker’s stock valued at $1,052,000 after acquiring an additional 410 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC raised its holdings in shares of Paylocity by 19.4% in the third quarter. NorthCrest Asset Manangement LLC now owns 7,777 shares of the software maker’s stock valued at $1,190,000 after acquiring an additional 1,261 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Company Profile

Paylocity Holding Corporation (NASDAQ:PCTY) provides cloud-based human capital management (HCM) software for organizations and their employees. Its platform is designed to help businesses manage payroll, human resources, employee benefits, workforce administration and related compliance activities through a unified system.

The company’s products and services include payroll processing, tax and regulatory support, time and labor management, benefits administration, talent acquisition and management, employee performance tools, expense management, reporting and analytics.