Paylocity Holding Co. (NASDAQ:PCTY - Get Free Report) Director Steven I. Sarowitz sold 26,252 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.91, for a total value of $5,116,777.32. Following the sale, the director now directly owns 420,000 shares in the company, valued at approximately $81,862,200. This represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Paylocity Stock Down 2.5 %
Shares of PCTY traded down $4.80 during midday trading on Friday, reaching $186.33. 318,935 shares of the stock were exchanged, compared to its average volume of 476,165. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. The company's 50 day moving average is $201.20 and its two-hundred day moving average is $192.49. The company has a market capitalization of $10.41 billion, a P/E ratio of 47.78, a PEG ratio of 4.49 and a beta of 0.94. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $223.80.
Paylocity (NASDAQ:PCTY - Get Free Report) last posted its earnings results on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. On average, sell-side analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on PCTY shares. TD Cowen lowered their target price on shares of Paylocity from $235.00 to $228.00 and set a "buy" rating on the stock in a report on Monday, January 6th. JMP Securities increased their price objective on shares of Paylocity from $250.00 to $270.00 and gave the company a "market outperform" rating in a report on Friday, February 7th. Barclays lifted their target price on Paylocity from $214.00 to $231.00 and gave the stock an "equal weight" rating in a report on Friday, February 7th. Jefferies Financial Group lifted their price objective on Paylocity from $240.00 to $255.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Finally, Citigroup raised shares of Paylocity from a "neutral" rating to a "buy" rating and upped their price target for the company from $214.00 to $231.00 in a research note on Thursday, January 16th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $233.25.
Check Out Our Latest Research Report on PCTY
Institutional Trading of Paylocity
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Certuity LLC bought a new position in shares of Paylocity in the 4th quarter worth $232,000. Edgestream Partners L.P. raised its holdings in Paylocity by 222.3% in the third quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker's stock worth $1,788,000 after purchasing an additional 7,475 shares in the last quarter. Barclays PLC lifted its position in shares of Paylocity by 14.3% during the third quarter. Barclays PLC now owns 44,897 shares of the software maker's stock valued at $7,407,000 after buying an additional 5,609 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Paylocity by 5,742.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker's stock valued at $1,165,000 after buying an additional 5,742 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Paylocity by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker's stock worth $46,592,000 after buying an additional 4,697 shares during the last quarter. Institutional investors own 94.76% of the company's stock.
About Paylocity
(
Get Free Report)
Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.
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