Steven R. Beauchamp Sells 6,742 Shares of Paylocity Holding Corp (PCTY) 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 shares were sold at an average price of $50.13, for a total transaction of $337,976.46. Following the completion of the sale, the chief executive officer now directly owns 2,180,425 shares in the company, valued at $109,304,705.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Shares of Paylocity Holding Corp (PCTY) traded up $0.20 during midday trading on Thursday, reaching $49.66. 146,386 shares of the company were exchanged, compared to its average volume of 207,850. Paylocity Holding Corp has a 12-month low of $29.69 and a 12-month high of $53.96. The stock has a market capitalization of $2,560.20, a P/E ratio of 275.89, a PEG ratio of 6.40 and a beta of 2.11.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings results on Thursday, November 2nd. The software maker reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ 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 for the quarter, compared to the consensus estimate of $80.88 million. During the same period in the prior year, the firm posted $0.07 earnings per share. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. analysts forecast that Paylocity Holding Corp will post 0.33 EPS for the current year.

PCTY has been the topic of several recent research reports. TheStreet raised shares of Paylocity from a “c” rating to a “b-” rating in a report on Friday, November 3rd. Zacks Investment Research raised shares of Paylocity from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Tuesday, January 2nd. Bank of America upped their price objective on shares of Paylocity from $50.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, October 24th. Mizuho reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Paylocity in a report on Thursday, October 12th. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $47.00 price objective on shares of Paylocity in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $52.92.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. boosted its holdings in Paylocity by 10.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 113,529 shares of the software maker’s stock worth $5,130,000 after buying an additional 10,911 shares in the last quarter. Menta Capital LLC purchased a new stake in Paylocity during the second quarter worth $1,270,000. Teachers Advisors LLC boosted its holdings in Paylocity by 29.0% during the second quarter. Teachers Advisors LLC now owns 47,178 shares of the software maker’s stock worth $2,132,000 after buying an additional 10,613 shares in the last quarter. Jane Street Group LLC purchased a new stake in Paylocity during the third quarter worth $260,000. Finally, Vanguard Group Inc. raised its position in Paylocity by 3.8% during the second quarter. Vanguard Group Inc. now owns 2,070,015 shares of the software maker’s stock worth $93,524,000 after acquiring an additional 75,709 shares during the period. 59.78% of the stock is currently owned by hedge funds and other institutional investors.

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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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