Michael R. Haske Sells 25,000 Shares of Paylocity Holding Corp (PCTY) Stock

Paylocity Holding Corp (NASDAQ:PCTY) insider Michael R. Haske sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $43.37, for a total transaction of $1,084,250.00. Following the completion of the sale, the insider now owns 1,159,202 shares of the company’s stock, valued at $50,274,590.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Paylocity Holding Corp (NASDAQ PCTY) traded up $1.42 on Wednesday, reaching $44.33. 283,983 shares of the company’s stock traded hands, compared to its average volume of 252,761. Paylocity Holding Corp has a 12 month low of $34.13 and a 12 month high of $53.96. The stock has a market capitalization of $2,330.00, a P/E ratio of 201.50, a P/E/G ratio of 6.18 and a beta of 2.09.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, February 8th. The software maker reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.04. Paylocity had a net margin of 3.57% and a return on equity of 9.09%. The company had revenue of $86.00 million during the quarter, compared to the consensus estimate of $85.03 million. During the same period in the previous year, the firm earned $0.10 earnings per share. Paylocity’s revenue for the quarter was up 25.3% on a year-over-year basis. sell-side analysts anticipate that Paylocity Holding Corp will post 0.33 EPS for the current fiscal year.

PCTY has been the subject of a number of recent analyst reports. Dougherty & Co initiated coverage on shares of Paylocity in a report on Tuesday, December 19th. They issued a “neutral” rating for the company. Zacks Investment Research downgraded shares of Paylocity from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Robert W. Baird boosted their target price on shares of Paylocity from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. TheStreet downgraded shares of Paylocity from a “b-” rating to a “c+” rating in a report on Tuesday, December 5th. Finally, Bank of America boosted their target price on shares of Paylocity from $50.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, October 24th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $52.92.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Two Sigma Investments LP grew its stake in Paylocity by 16.7% during the fourth quarter. Two Sigma Investments LP now owns 47,760 shares of the software maker’s stock worth $2,252,000 after buying an additional 6,818 shares during the period. Cornercap Investment Counsel Inc. purchased a new stake in Paylocity during the fourth quarter worth approximately $753,000. Fred Alger Management Inc. grew its stake in Paylocity by 12.1% during the fourth quarter. Fred Alger Management Inc. now owns 1,163,567 shares of the software maker’s stock worth $54,874,000 after buying an additional 125,664 shares during the period. TimesSquare Capital Management LLC boosted its stake in shares of Paylocity by 7.5% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,120,400 shares of the software maker’s stock valued at $52,838,000 after purchasing an additional 77,900 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in shares of Paylocity by 17.8% in the fourth quarter. Alliancebernstein L.P. now owns 879,792 shares of the software maker’s stock valued at $41,491,000 after purchasing an additional 133,249 shares during the period. Institutional investors own 60.47% of the company’s stock.

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Paylocity 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.

Insider Buying and Selling by Quarter for Paylocity (NASDAQ:PCTY)

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