Steven R. Beauchamp Sells 24,530 Shares of Paylocity Holding Corporation (PCTY) Stock
Paylocity Holding Corporation (NASDAQ:PCTY) CEO Steven R. Beauchamp sold 24,530 shares of Paylocity Holding Corporation stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $50.24, for a total transaction of $1,232,387.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of Paylocity Holding Corporation (NASDAQ PCTY) traded down 0.08% during trading on Wednesday, hitting $49.62. 90,529 shares of the company were exchanged. Paylocity Holding Corporation has a 1-year low of $29.69 and a 1-year high of $50.72. The stock has a market capitalization of $2.57 billion, a PE ratio of 413.50 and a beta of 2.23. The company has a 50 day moving average of $47.23 and a 200-day moving average of $44.50.
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, 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 business had revenue of $76.10 million for the quarter, compared to analysts’ expectations of $73.79 million. During the same period in the previous year, the business posted ($0.01) EPS. The firm’s quarterly revenue was up 27.3% compared to the same quarter last year. On average, analysts forecast that Paylocity Holding Corporation will post $0.79 earnings per share for the current year.
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A number of institutional investors have recently made changes to their positions in PCTY. Janus Henderson Group PLC bought a new stake in Paylocity Holding Corporation in the 2nd quarter valued at about $29,148,000. Marshall Wace North America L.P. bought a new stake in Paylocity Holding Corporation in the 1st quarter valued at about $16,054,000. MARSHALL WACE ASIA Ltd bought a new stake in Paylocity Holding Corporation in the 1st quarter valued at about $16,054,000. Tudor Investment Corp ET AL raised its stake in Paylocity Holding Corporation by 2,737.3% in the 1st quarter. Tudor Investment Corp ET AL now owns 314,709 shares of the software maker’s stock valued at $12,157,000 after acquiring an additional 303,617 shares during the period. Finally, Blair William & Co. IL raised its stake in Paylocity Holding Corporation by 70.1% in the 2nd quarter. Blair William & Co. IL now owns 545,439 shares of the software maker’s stock valued at $24,643,000 after acquiring an additional 224,771 shares during the period. Institutional investors and hedge funds own 60.87% of the company’s stock.
PCTY has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Paylocity Holding Corporation from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Tuesday, July 18th. ValuEngine raised shares of Paylocity Holding Corporation from a “sell” rating to a “hold” rating in a report on Friday, September 1st. JMP Securities reaffirmed an “outperform” rating and set a $54.00 price objective on shares of Paylocity Holding Corporation in a report on Tuesday, July 18th. SunTrust Banks, Inc. initiated coverage on shares of Paylocity Holding Corporation in a report on Monday, June 26th. They set a “hold” rating and a $45.00 price objective on the stock. Finally, Northland Securities reaffirmed a “buy” rating and set a $55.00 price objective on shares of Paylocity Holding Corporation in a report on Sunday, September 10th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price 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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