Paylocity Holding Corp (PCTY) SVP Sells $485,050.00 in Stock
Paylocity Holding Corp (NASDAQ:PCTY) SVP Mark S. Kinsey sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $97.01, for a total transaction of $485,050.00. Following the completion of the transaction, the senior vice president now owns 85,312 shares in the company, valued at approximately $8,276,117.12. The sale was disclosed in a legal filing with the SEC, which is available through this link.
PCTY traded up $0.56 during midday trading on Wednesday, hitting $96.68. 261,100 shares of the company traded hands, compared to its average volume of 286,975. The stock has a market capitalization of $4.95 billion, a P/E ratio of 311.26, a P/E/G ratio of 8.27 and a beta of 2.07. Paylocity Holding Corp has a 52 week low of $52.93 and a 52 week high of $99.80.
Paylocity (NASDAQ:PCTY) last posted its earnings results on Thursday, May 2nd. The software maker reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.19. Paylocity had a net margin of 9.52% and a return on equity of 15.29%. The business had revenue of $139.60 million for the quarter, compared to analysts’ expectations of $135.97 million. During the same quarter in the prior year, the business earned $0.71 EPS. The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. Research analysts forecast that Paylocity Holding Corp will post 0.56 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on PCTY. SunTrust Banks upped their price target on shares of Paylocity to $108.00 and gave the stock a “positive” rating in a research note on Friday, May 3rd. Craig Hallum restated a “hold” rating and set a $97.00 target price (up previously from $78.00) on shares of Paylocity in a research note on Friday, May 3rd. Jefferies Financial Group upped their target price on shares of Paylocity from $85.00 to $103.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. KeyCorp started coverage on shares of Paylocity in a research note on Tuesday, April 16th. They set an “overweight” rating and a $104.00 target price on the stock. Finally, Zacks Investment Research cut shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $88.57.
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Paylocity Company Profile
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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