Insider Selling: Paylocity Holding Corporation (PCTY) Director Sells 200,000 Shares of Stock
Paylocity Holding Corporation (NASDAQ:PCTY) Director Steven I. Sarowitz sold 200,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $44.81, for a total value of $8,962,000.00. Following the completion of the sale, the director now owns 16,212,317 shares in the company, valued at $726,473,924.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Paylocity Holding Corporation (PCTY) traded up 1.90% during mid-day trading on Tuesday, reaching $46.19. The company’s stock had a trading volume of 288,301 shares. The stock has a market capitalization of $2.39 billion, a P/E ratio of 384.92 and a beta of 2.26. The stock’s 50 day moving average price is $45.64 and its 200 day moving average price is $41.58. Paylocity Holding Corporation has a 1-year low of $29.69 and a 1-year high of $49.65.
Paylocity Holding Corporation (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, August 10th. The software maker reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The company had revenue of $76.10 million during the quarter, compared to analysts’ expectations of $73.79 million. Paylocity Holding Corporation had a net margin of 2.24% and a return on equity of 6.33%. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) EPS. Analysts expect that Paylocity Holding Corporation will post $0.79 EPS for the current fiscal year.
Several analysts have recently issued reports on PCTY shares. Pacific Crest reiterated a “hold” rating on shares of Paylocity Holding Corporation in a research note on Thursday, May 4th. Deutsche Bank AG increased their price objective on Paylocity Holding Corporation from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, May 5th. Needham & Company LLC reiterated a “buy” rating and issued a $46.00 price objective (up from $40.00) on shares of Paylocity Holding Corporation in a research note on Friday, May 5th. Zacks Investment Research upgraded Paylocity Holding Corporation from a “hold” rating to a “strong-buy” rating and set a $50.00 price objective on the stock in a research note on Wednesday, May 10th. Finally, Wells Fargo & Company started coverage on Paylocity Holding Corporation in a research note on Thursday, May 11th. They issued a “market perform” rating and a $44.00 price objective on the stock. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $51.17.
A number of institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. boosted its position in Paylocity Holding Corporation by 22.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,282 shares of the software maker’s stock worth $103,000 after buying an additional 421 shares during the last quarter. Nomura Holdings Inc. purchased a new position in Paylocity Holding Corporation during the second quarter worth $208,000. California State Teachers Retirement System boosted its position in Paylocity Holding Corporation by 8.4% in the second quarter. California State Teachers Retirement System now owns 46,071 shares of the software maker’s stock worth $2,081,000 after buying an additional 3,577 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Paylocity Holding Corporation by 18.3% in the second quarter. The Manufacturers Life Insurance Company now owns 20,929 shares of the software maker’s stock worth $945,000 after buying an additional 3,242 shares during the last quarter. Finally, State Street Corp boosted its position in Paylocity Holding Corporation by 18.4% in the second quarter. State Street Corp now owns 475,077 shares of the software maker’s stock worth $21,468,000 after buying an additional 73,786 shares during the last quarter. 62.97% of the stock is owned by institutional investors.
Paylocity Holding Corporation Company Profile
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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