Paylocity Holding Corp (NASDAQ:PCTY) SVP Mark S. Kinsey sold 386 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $66.65, for a total value of $25,726.90. Following the completion of the sale, the senior vice president now owns 86,331 shares of the company’s stock, valued at $5,753,961.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of NASDAQ:PCTY traded up $0.85 on Friday, reaching $68.92. 503,919 shares of the company traded hands, compared to its average volume of 255,306. Paylocity Holding Corp has a fifty-two week low of $41.15 and a fifty-two week high of $69.18. The company has a market capitalization of $3.56 billion, a PE ratio of 222.32, a price-to-earnings-growth ratio of 6.97 and a beta of 1.94.
Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, August 9th. The software maker reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). Paylocity had a net margin of 10.22% and a return on equity of 13.21%. The company had revenue of $96.62 million for the quarter, compared to analyst estimates of $93.33 million. During the same quarter last year, the company posted $0.09 EPS. Paylocity’s revenue was up 27.0% on a year-over-year basis. research analysts expect that Paylocity Holding Corp will post 0.44 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in PCTY. Zevenbergen Capital Investments LLC acquired a new stake in Paylocity during the 1st quarter valued at $30,851,000. MetLife Investment Advisors LLC acquired a new stake in Paylocity during the 4th quarter valued at $581,000. First Mercantile Trust Co. acquired a new stake in Paylocity during the 1st quarter valued at $297,000. Kornitzer Capital Management Inc. KS raised its stake in Paylocity by 99.3% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 237,010 shares of the software maker’s stock valued at $12,142,000 after purchasing an additional 118,090 shares during the period. Finally, Xact Kapitalforvaltning AB acquired a new stake in Paylocity during the 1st quarter valued at $254,000. Institutional investors own 63.84% of the company’s stock.
A number of equities research analysts have weighed in on the company. Royal Bank of Canada cut their target price on Paylocity from $68.00 to $66.00 and set a “sector perform” rating for the company in a research report on Friday, August 10th. Needham & Company LLC upped their target price on Paylocity from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Wells Fargo & Co upped their target price on Paylocity from $52.00 to $58.00 and gave the stock a “market perform” rating in a research report on Friday, August 10th. Stifel Nicolaus upped their target price on Paylocity from $59.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Finally, Robert W. Baird restated a “buy” rating and issued a $68.00 target price on shares of Paylocity in a research report on Friday, August 10th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $63.69.
Paylocity Company Profile
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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