Paylocity Holding Corporation (PCTY) Insider Steven R. Beauchamp Sells 50,000 Shares
Paylocity Holding Corporation (NASDAQ:PCTY) insider Steven R. Beauchamp sold 50,000 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $46.38, for a total value of $2,319,000.00. Following the completion of the transaction, the insider now owns 2,218,486 shares of the company’s stock, valued at $102,893,380.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Paylocity Holding Corporation (NASDAQ:PCTY) traded down 0.06% during midday trading on Wednesday, hitting $46.16. The stock had a trading volume of 260,866 shares. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 384.67 and a beta of 2.26. Paylocity Holding Corporation has a 1-year low of $29.69 and a 1-year high of $49.65. The firm has a 50-day moving average price of $45.64 and a 200-day moving average price of $41.58.
Paylocity Holding Corporation (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, August 10th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.04. Paylocity Holding Corporation had a return on equity of 6.33% and a net margin of 2.24%. The business had revenue of $76.10 million during the quarter, compared to analyst estimates of $73.79 million. During the same period last year, the company earned ($0.01) earnings per share. Paylocity Holding Corporation’s quarterly revenue was up 27.3% compared to the same quarter last year. On average, equities analysts anticipate that Paylocity Holding Corporation will post $0.79 EPS for the current fiscal year.
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Institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can raised its position in Paylocity Holding Corporation by 1.2% in the second quarter. Bank of Montreal Can now owns 3,419 shares of the software maker’s stock valued at $154,000 after buying an additional 42 shares during the period. Citigroup Inc. raised its position in Paylocity Holding Corporation by 3.8% in the second quarter. Citigroup Inc. now owns 11,366 shares of the software maker’s stock valued at $514,000 after buying an additional 413 shares during the period. Ameritas Investment Partners Inc. raised its position in Paylocity Holding Corporation 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 period. Sei Investments Co. raised its position in Paylocity Holding Corporation by 0.4% in the second quarter. Sei Investments Co. now owns 141,900 shares of the software maker’s stock valued at $6,411,000 after buying an additional 529 shares during the period. Finally, Bayesian Capital Management LP raised its position in Paylocity Holding Corporation by 10.8% in the second quarter. Bayesian Capital Management LP now owns 6,144 shares of the software maker’s stock valued at $278,000 after buying an additional 600 shares during the period. Institutional investors own 62.97% of the company’s stock.
Several equities analysts recently commented on the company. ValuEngine upgraded Paylocity Holding Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. SunTrust Banks, Inc. began coverage on Paylocity Holding Corporation in a research note on Monday, June 26th. They issued a “hold” rating and a $45.00 target price for the company. Zacks Investment Research downgraded Paylocity Holding Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. JMP Securities reissued an “outperform” rating and set a $54.00 price target on shares of Paylocity Holding Corporation in a research report on Tuesday, July 18th. Finally, BidaskClub downgraded Paylocity Holding Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $51.17.
Paylocity Holding Corporation 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.
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