Insider Selling: Paylocity Holding Corporation (PCTY) Director Sells $51,975,000.00 in Stock
Paylocity Holding Corporation (NASDAQ:PCTY) Director Jeffrey T. Diehl sold 1,155,000 shares of Paylocity Holding Corporation stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $45.00, for a total value of $51,975,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Paylocity Holding Corporation (PCTY) opened at 46.82 on Thursday. The company has a market capitalization of $2.42 billion, a P/E ratio of 390.17 and a beta of 2.26. Paylocity Holding Corporation has a one year low of $29.69 and a one year high of $49.65. The firm has a 50-day moving average price of $45.79 and a 200-day moving average price of $42.14.
Paylocity Holding Corporation (NASDAQ:PCTY) last announced its quarterly earnings results on Thursday, August 10th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The firm had revenue of $76.10 million during the quarter, compared to analyst estimates of $73.79 million. Paylocity Holding Corporation had a return on equity of 6.13% and a net margin of 2.24%. Paylocity Holding Corporation’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.01) earnings per share. Equities analysts forecast that Paylocity Holding Corporation will post $0.79 earnings per share for the current year.
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A number of research firms recently commented on PCTY. ValuEngine raised Paylocity Holding Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. SunTrust Banks, Inc. began coverage on Paylocity Holding Corporation in a research note on Monday, June 26th. They issued a “hold” rating and a $45.00 price objective on the stock. Zacks Investment Research lowered Paylocity Holding Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. JMP Securities reaffirmed an “outperform” rating and issued a $54.00 price objective on shares of Paylocity Holding Corporation in a research note on Tuesday, July 18th. Finally, BidaskClub lowered Paylocity Holding Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Ten equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Paylocity Holding Corporation presently has a consensus rating of “Hold” and an average price target of $51.17.
A number of hedge funds have recently bought and sold shares of PCTY. Janus Henderson Group PLC bought a new stake in Paylocity Holding Corporation during the second quarter worth $29,148,000. MARSHALL WACE ASIA Ltd bought a new stake in Paylocity Holding Corporation during the first quarter worth $16,054,000. Marshall Wace North America L.P. bought a new stake in Paylocity Holding Corporation during the first quarter worth $16,054,000. Tudor Investment Corp ET AL raised its stake in Paylocity Holding Corporation by 2,737.3% in the first quarter. Tudor Investment Corp ET AL now owns 314,709 shares of the software maker’s stock worth $12,157,000 after buying an additional 303,617 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in Paylocity Holding Corporation by 70.1% in the second quarter. Blair William & Co. IL now owns 545,439 shares of the software maker’s stock worth $24,643,000 after buying an additional 224,771 shares in the last quarter. Institutional investors own 62.97% of the company’s stock.
About Paylocity Holding Corporation
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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