Insider Selling: Paylocity Holding Corp (PCTY) Insider Sells 9,700 Shares of Stock

Paylocity Holding Corp (NASDAQ:PCTY) insider Michael R. Haske sold 9,700 shares of the company’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $50.10, for a total transaction of $485,970.00. Following the completion of the transaction, the insider now owns 1,201,844 shares of the company’s stock, valued at approximately $60,212,384.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Paylocity Holding Corp (PCTY) traded up $0.44 on Friday, hitting $50.10. 87,242 shares of the company traded hands, compared to its average volume of 207,850. Paylocity Holding Corp has a 52-week low of $29.69 and a 52-week high of $53.96. The firm has a market cap of $2,610.00, a P/E ratio of 278.33, a PEG ratio of 6.49 and a beta of 2.11.

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

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

A number of research analysts have weighed in on PCTY shares. Zacks Investment Research downgraded 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 downgraded 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 issued 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 investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. Paylocity currently has a consensus rating of “Hold” and a consensus target price of $52.92.

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About Paylocity

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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