Paylocity (NASDAQ:PCTY) Chairman Steven Beauchamp Sells 15,000 Shares of Company Stock

Paylocity Holding Corporation (NASDAQ:PCTY) Chairman Steven Beauchamp sold 15,000 shares of the business’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $165.22, for a total value of $2,478,300.00. Following the completion of the sale, the chairman directly owned 1,243,389 shares in the company, valued at $205,432,730.58. This trade represents a 1.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Stock Up 0.0%

Shares of NASDAQ:PCTY traded up $0.07 on Friday, hitting $166.32. 459,494 shares of the company traded hands, compared to its average volume of 777,098. Paylocity Holding Corporation has a 52 week low of $92.99 and a 52 week high of $169.09. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07. The stock has a 50 day simple moving average of $149.36 and a 200-day simple moving average of $125.54. The company has a market cap of $8.82 billion, a PE ratio of 33.60, a PEG ratio of 1.89 and a beta of 0.50.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.22. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The company had revenue of $444.73 million for the quarter, compared to analysts’ expectations of $431.46 million. During the same quarter in the previous year, the business posted $1.56 EPS. Paylocity’s revenue was up 11.0% compared to the same quarter last year. As a group, research analysts expect that Paylocity Holding Corporation will post 6.92 earnings per share for the current year.

Institutional Investors Weigh In On Paylocity

Large investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Paylocity during the 2nd quarter valued at about $430,315,000. Jupiter Topco LLC purchased a new position in shares of Paylocity in the second quarter worth approximately $70,540,000. Amundi grew its position in Paylocity by 9.5% during the second quarter. Amundi now owns 663,449 shares of the software maker’s stock valued at $69,350,000 after buying an additional 57,291 shares during the period. Van Berkom & Associates Inc. grew its position in Paylocity by 17.8% during the first quarter. Van Berkom & Associates Inc. now owns 616,407 shares of the software maker’s stock valued at $66,597,000 after buying an additional 93,065 shares during the period. Finally, Deutsche Bank AG purchased a new stake in Paylocity during the second quarter valued at approximately $54,906,000. 94.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PCTY. TD Cowen upped their target price on shares of Paylocity from $168.00 to $177.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Robert W. Baird set a $201.00 price objective on shares of Paylocity in a report on Wednesday, August 5th. BTIG Research increased their target price on Paylocity from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. BMO Capital Markets lifted their target price on Paylocity from $143.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Finally, Cantor Fitzgerald boosted their price target on Paylocity from $140.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.76.

About Paylocity

Paylocity Holding Corporation (NASDAQ:PCTY) provides cloud-based human capital management (HCM) software for organizations and their employees. Its platform is designed to help businesses manage payroll, human resources, employee benefits, workforce administration and related compliance activities through a unified system.

The company’s products and services include payroll processing, tax and regulatory support, time and labor management, benefits administration, talent acquisition and management, employee performance tools, expense management, reporting and analytics.