Shares of Paylocity Holding Corp (NASDAQ:PCTY) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $73.91 and last traded at $73.76, with a volume of 3937 shares traded. The stock had previously closed at $71.95.

PCTY has been the subject of several analyst reports. Zacks Investment Research raised shares of Paylocity from a “sell” rating to a “hold” rating in a research note on Thursday, May 10th. Raymond James reissued a “buy” rating and issued a $75.00 price objective on shares of Paylocity in a research note on Monday, August 13th. BidaskClub downgraded shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Mizuho reaffirmed a “hold” rating and set a $45.00 price target on shares of Paylocity in a research note on Thursday, May 3rd. Finally, Guggenheim initiated coverage on shares of Paylocity in a research note on Monday, August 20th. They set a “buy” rating and a $80.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $64.86.

The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.01. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 242.81, a P/E/G ratio of 4.37 and a beta of 1.94.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, August 9th. The software maker reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.01). Paylocity had a net margin of 10.22% and a return on equity of 12.44%. The company had revenue of $96.62 million for the quarter, compared to the consensus estimate of $93.33 million. During the same period in the prior year, the firm posted $0.09 EPS. The business’s revenue was up 27.0% on a year-over-year basis. equities analysts predict that Paylocity Holding Corp will post 0.75 earnings per share for the current fiscal year.

In related news, insider Michael R. Haske sold 57,500 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $66.65, for a total value of $3,832,375.00. Following the completion of the transaction, the insider now owns 1,010,693 shares of the company’s stock, valued at $67,362,688.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Steven R. Beauchamp sold 4,301 shares of the business’s stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $60.08, for a total transaction of $258,404.08. Following the completion of the transaction, the chief executive officer now directly owns 1,996,667 shares of the company’s stock, valued at approximately $119,959,753.36. The disclosure for this sale can be found here. Insiders sold 1,323,111 shares of company stock valued at $85,396,712 in the last three months. 48.80% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its stake in Paylocity by 9.1% in the second quarter. Public Employees Retirement System of Ohio now owns 95,876 shares of the software maker’s stock worth $5,643,000 after buying an additional 8,025 shares in the last quarter. California Public Employees Retirement System raised its stake in Paylocity by 29.3% in the second quarter. California Public Employees Retirement System now owns 46,344 shares of the software maker’s stock worth $2,728,000 after buying an additional 10,506 shares in the last quarter. Putnam Investments LLC bought a new position in Paylocity in the second quarter worth approximately $1,966,000. MetLife Investment Advisors LLC raised its stake in Paylocity by 8.0% in the second quarter. MetLife Investment Advisors LLC now owns 13,301 shares of the software maker’s stock worth $783,000 after buying an additional 989 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in Paylocity by 13.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 9,895 shares of the software maker’s stock worth $582,000 after buying an additional 1,166 shares in the last quarter. 63.56% of the stock is owned by institutional investors.

About Paylocity (NASDAQ:PCTY)

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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