Insider Selling: Paylocity Holding Corp (PCTY) CEO Sells 6,742 Shares of Stock

Paylocity Holding Corp (NASDAQ:PCTY) CEO Steven R. Beauchamp sold 6,742 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $50.13, for a total transaction of $337,976.46. Following the transaction, the chief executive officer now owns 2,180,425 shares of the company’s stock, valued at $109,304,705.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of Paylocity Holding Corp (PCTY) traded up $0.20 during midday trading on Thursday, hitting $49.66. 146,386 shares of the stock were exchanged, compared to its average volume of 207,850. The firm has a market capitalization of $2,560.20, a PE ratio of 275.89, a price-to-earnings-growth ratio of 6.40 and a beta of 2.11. Paylocity Holding Corp has a 1-year low of $29.69 and a 1-year high of $53.96.

Paylocity (NASDAQ:PCTY) last issued its earnings results on Thursday, November 2nd. The software maker reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.17. The business had revenue of $81.50 million during the quarter, compared to analysts’ expectations of $80.88 million. Paylocity had a net margin of 3.11% and a return on equity of 7.98%. The company’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.07 earnings per share. sell-side analysts anticipate that Paylocity Holding Corp will post 0.33 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. raised its position in shares of Paylocity by 22.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,282 shares of the software maker’s stock valued at $103,000 after buying an additional 421 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Paylocity by 562.6% in the second quarter. BNP Paribas Arbitrage SA now owns 3,293 shares of the software maker’s stock valued at $149,000 after buying an additional 2,796 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Paylocity in the second quarter valued at about $208,000. GSA Capital Partners LLP acquired a new stake in Paylocity during the third quarter worth about $211,000. Finally, Jane Street Group LLC acquired a new stake in Paylocity during the third quarter worth about $260,000. Institutional investors and hedge funds own 59.78% of the company’s stock.

A number of equities analysts have weighed in on PCTY shares. Zacks Investment Research cut shares of Paylocity from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Robert W. Baird upped their price objective on shares of Paylocity from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Friday, November 3rd. TheStreet cut shares of Paylocity from a “b-” rating to a “c+” rating in a research report on Tuesday, December 5th. Dougherty & Co started coverage on shares of Paylocity in a research report on Tuesday, December 19th. They set a “neutral” rating for the company. Finally, Bank of America upped their price objective on shares of Paylocity from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $52.92.

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Paylocity Company Profile

Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (HCM), software solutions for medium-sized organizations. The Company’s services are provided in a software-as-a-service delivery model utilizing its cloud-based platform. The cloud-based platform provides a suite of applications using a multi-tenant architecture.

Insider Buying and Selling by Quarter for Paylocity (NASDAQ:PCTY)

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