Paylocity Holding (NASDAQ:PCTY) Director Ellen Carnahan bought 1,380 shares of Paylocity stock in a transaction on Friday, March 16th. The stock was acquired at an average cost of $53.91 per share, with a total value of $74,395.80. Following the acquisition, the director now owns 7,908 shares of the company’s stock, valued at approximately $426,320.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of PCTY stock traded up $1.07 on Thursday, hitting $54.68. 242,605 shares of the stock traded hands, compared to its average volume of 263,530. The firm has a market cap of $2,767.48, a P/E ratio of 363.13, a P/E/G ratio of 7.91 and a beta of 2.00. Paylocity Holding has a 1-year low of $37.91 and a 1-year high of $57.16.
Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, February 8th. The software maker reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.04. The business had revenue of $86.00 million for the quarter, compared to analyst estimates of $85.03 million. Paylocity had a return on equity of 8.93% and a net margin of 3.57%. The business’s revenue was up 25.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 EPS. equities research analysts forecast that Paylocity Holding will post 0.3 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Fox Run Management L.L.C. bought a new position in Paylocity during the 4th quarter worth $520,000. Jane Street Group LLC bought a new position in Paylocity during the 3rd quarter worth $260,000. Teacher Retirement System of Texas bought a new position in Paylocity during the 4th quarter worth $462,000. Swiss National Bank grew its stake in Paylocity by 5.7% during the 4th quarter. Swiss National Bank now owns 49,750 shares of the software maker’s stock worth $2,346,000 after buying an additional 2,700 shares during the last quarter. Finally, Prudential Financial Inc. bought a new position in shares of Paylocity in the third quarter worth $267,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.
PCTY has been the subject of several research reports. SunTrust Banks raised Paylocity from a “hold” rating to a “buy” rating and cut their price target for the stock from $52.72 to $45.00 in a research note on Monday, March 12th. Zacks Investment Research downgraded shares of Paylocity from a “hold” rating to a “sell” rating in a research note on Wednesday. Dougherty & Co started coverage on Paylocity in a report on Tuesday, December 19th. They issued a “neutral” rating for the company. BidaskClub cut Paylocity from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 3rd. Finally, First Analysis lifted their price target on Paylocity from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, March 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $54.57.
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Paylocity Holding Corporation provides cloud-based payroll and human capital management (HCM) software solutions for medium-sized organizations in the United States. It offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management and HR compliance and reporting; 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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