Paylocity Holding Corporation (PCTY) CEO Steven R. Beauchamp Sells 23,530 Shares
Paylocity Holding Corporation (NASDAQ:PCTY) CEO Steven R. Beauchamp sold 23,530 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $50.25, for a total value of $1,182,382.50. Following the completion of the sale, the chief executive officer now directly owns 2,253,978 shares of the company’s stock, valued at approximately $113,262,394.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Paylocity Holding Corporation (NASDAQ PCTY) traded down 0.08% during mid-day trading on Wednesday, hitting $49.62. The stock had a trading volume of 90,529 shares. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 413.50 and a beta of 2.23. The stock’s 50-day moving average price is $47.23 and its 200-day moving average price is $44.50. Paylocity Holding Corporation has a 12 month low of $29.69 and a 12 month high of $50.72.
Paylocity Holding Corporation (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, August 10th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.04. Paylocity Holding Corporation had a return on equity of 6.13% and a net margin of 2.24%. The company had revenue of $76.10 million during the quarter, compared to analysts’ expectations of $73.79 million. During the same quarter in the previous year, the business earned ($0.01) EPS. Paylocity Holding Corporation’s revenue was up 27.3% compared to the same quarter last year. On average, analysts predict that Paylocity Holding Corporation will post $0.79 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently bought and sold shares of the stock. USA Financial Portformulas Corp purchased a new position in Paylocity Holding Corporation during the 2nd quarter valued at $471,000. Dynamic Technology Lab Private Ltd purchased a new position in Paylocity Holding Corporation during the 2nd quarter valued at $419,000. Wasatch Advisors Inc. boosted its holdings in Paylocity Holding Corporation by 8.0% during the 2nd quarter. Wasatch Advisors Inc. now owns 863,765 shares of the software maker’s stock valued at $39,025,000 after acquiring an additional 64,268 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Paylocity Holding Corporation by 29.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 37,350 shares of the software maker’s stock valued at $1,687,000 after acquiring an additional 8,391 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its holdings in Paylocity Holding Corporation by 22.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,282 shares of the software maker’s stock valued at $103,000 after acquiring an additional 421 shares during the period. Institutional investors own 60.87% of the company’s stock.
Several analysts have issued reports on the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $55.00 target price (up previously from $50.00) on shares of Paylocity Holding Corporation in a research note on Friday, August 11th. Mizuho reaffirmed a “hold” rating and issued a $45.00 target price on shares of Paylocity Holding Corporation in a research note on Thursday, August 10th. Raymond James Financial, Inc. set a $55.00 target price on Paylocity Holding Corporation and gave the stock a “buy” rating in a research note on Wednesday, August 9th. BidaskClub lowered Paylocity Holding Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Zacks Investment Research raised Paylocity Holding Corporation from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Tuesday, July 18th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $51.46.
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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