Paylocity Holding Co. (NASDAQ: PCTY) COO Michael R. Haske sold 16,209 shares of the company in a transaction dated Tuesday, May 11. The stock was sold at an average price of $ 161.43, for a total trade of $ 2,616,618.87.
Actions of PCTY opened for $ 189.78 on Friday. The company has a market cap of $ 10.34 billion, a P / E ratio of 167.95 and a beta of 1.27. Paylocity Holding Co. has a 52 week low of $ 124.75 and a 52 week high of $ 218.34. The company has a 50-day simple moving average of $ 177.38.
Paylocity (NASDAQ: PCTY) last released its results on Thursday, May 6. The software maker reported earnings per share of $ 0.88 for the quarter, beating analyst consensus estimates of $ 0.67 by $ 0.21. The company posted revenue of $ 186.05 million for the quarter, compared to a consensus estimate of $ 185.25 million. Paylocity recorded a return on equity of 15.28% and a net margin of 10.67%. The company’s quarterly revenue increased 8.4% year-over-year. In the same quarter of the previous year, the company achieved EPS of $ 0.83. On average, analysts predict that Paylocity Holding Co. will post 0.91 EPS for the current year.
Several institutional investors and hedge funds have recently changed their holdings in the company. The New Mexico Educational Retirement Board increased its holdings of Paylocity shares by 20.0% in the 2nd quarter. The New Mexico Educational Retirement Board now owns 7,800 shares of the software maker valued at $ 1,488,000 after purchasing an additional 1,300 shares during the period. Gradient Investments LLC increased its equity stake in Paylocity by 12.1% in the 2nd quarter. Gradient Investments LLC now owns 23,695 shares of the software maker valued at $ 4,521,000 after purchasing an additional 2,559 shares during the period. Schroder Investment Management Group acquired a new position in Paylocity in the first quarter worth approximately $ 216,000. Principal Financial Group Inc. increased its stake in Paylocity by 15.4% in the first quarter. Principal Financial Group Inc. now owns 130,729 shares of the software maker valued at $ 23,509,000 after purchasing an additional 17,451 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Paylocity in the first quarter valued at approximately $ 217,000. Institutional investors hold 68.48% of the shares of the company.
The PCTY has been the subject of a number of research analyst reports. KeyCorp lowered its price target for Paylocity shares from $ 230.00 to $ 220.00 and set an “overweight” rating for the company in a report released on Monday, May 10. They noted that the move was an appraisal call. Piper Sandler lowered her target price on Paylocity stock from $ 205.00 to $ 184.00 and set a “neutral” rating for the company in a report released on Friday, May 7. Wolfe Research launched coverage on Paylocity shares in a report on Thursday, April 22. They issued a “market performance” rating and a price target of $ 200.00 for the company. Finally, Raymond James reduced his target price on Paylocity stock from $ 240.00 to $ 205.00 and set an “outperformance” rating for the company in a report released on Friday, May 7. Seven equity research analysts rated the stock with a conservation rating and six issued a buy rating for the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $ 200.63.
Paylocity Company Profile
Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for mid-size businesses in the United States. The company offers a payroll module that allows customers to automate key payroll processes and manage compliance; Core HR module, which provides a set of HR capabilities for clients to manage HR data; and the Talent module that enables clients to manage their talents throughout the employee tenure, starting with recruiting and going through onboarding, learning and performance management.
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