Paylocity Holding Co. (NASDAQ:PCTY – Get Free Report) CEO Steven R. Beauchamp sold 49,442 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $142.68, for a total value of $7,054,384.56. Following the sale, the chief executive officer now owns 1,745,022 shares of the company’s stock, valued at approximately $248,979,738.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Paylocity Price Performance

NASDAQ:PCTY traded down $4.48 during midday trading on Wednesday, reaching $142.31. 366,915 shares of the company traded hands, compared to its average volume of 524,658. The company has a fifty day moving average price of $143.77 and a 200 day moving average price of $157.32. The firm has a market capitalization of $8.03 billion, a price-to-earnings ratio of 42.67, a price-to-earnings-growth ratio of 2.48 and a beta of 0.92. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $230.52.

Paylocity (NASDAQ:PCTY – Get Free Report) last announced its earnings results on Thursday, May 2nd. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.29. The company had revenue of $401.28 million for the quarter, compared to analyst estimates of $396.93 million. Paylocity had a return on equity of 22.08% and a net margin of 14.42%. On average, equities research analysts forecast that Paylocity Holding Co. will post 3.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Paylocity

A number of institutional investors and hedge funds have recently modified their holdings of PCTY. Venturi Wealth Management LLC raised its position in shares of Paylocity by 144.1% during the first quarter. Venturi Wealth Management LLC now owns 166 shares of the software maker’s stock worth $29,000 after purchasing an additional 98 shares during the period. American National Bank purchased a new position in shares of Paylocity during the fourth quarter valued at $31,000. GAMMA Investing LLC purchased a new position in shares of Paylocity during the fourth quarter valued at $36,000. Principal Securities Inc. purchased a new position in shares of Paylocity during the fourth quarter valued at $41,000. Finally, J.Safra Asset Management Corp grew its holdings in shares of Paylocity by 80.0% during the first quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock valued at $42,000 after buying an additional 108 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PCTY has been the subject of several research reports. Robert W. Baird decreased their target price on Paylocity from $225.00 to $195.00 and set an “outperform” rating for the company in a research report on Tuesday, June 18th. TD Cowen decreased their target price on Paylocity from $180.00 to $153.00 and set a “buy” rating for the company in a research report on Thursday, June 20th. Citigroup decreased their target price on Paylocity from $178.00 to $155.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Jefferies Financial Group decreased their target price on Paylocity from $180.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Finally, Piper Sandler decreased their target price on Paylocity from $210.00 to $194.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $187.88.

Paylocity Company Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.

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