Insider Selling: Paylocity Holding Corp (PCTY) Director Sells 166,489 Shares of Stock

Paylocity Holding Corp (NASDAQ:PCTY) Director Steven I. Sarowitz sold 166,489 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $95.53, for a total value of $15,904,694.17. Following the sale, the director now owns 14,569,464 shares in the company, valued at $1,391,820,895.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of NASDAQ PCTY traded down $0.11 during mid-day trading on Thursday, reaching $95.49. 346,359 shares of the company were exchanged, compared to its average volume of 287,401. The stock has a market capitalization of $4.89 billion, a P/E ratio of 305.58, a price-to-earnings-growth ratio of 9.11 and a beta of 2.07. Paylocity Holding Corp has a 1 year low of $52.93 and a 1 year high of $99.80.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, May 2nd. The software maker reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.19. The firm had revenue of $139.60 million during the quarter, compared to analysts’ expectations of $135.97 million. Paylocity had a return on equity of 16.18% and a net margin of 9.52%. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 EPS. Analysts predict that Paylocity Holding Corp will post 0.54 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. FTB Advisors Inc. lifted its stake in shares of Paylocity by 25.1% during the 4th quarter. FTB Advisors Inc. now owns 642 shares of the software maker’s stock worth $38,000 after purchasing an additional 129 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in shares of Paylocity by 34.8% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 774 shares of the software maker’s stock worth $47,000 after buying an additional 200 shares during the period. First Quadrant L P CA increased its holdings in Paylocity by 460.3% in the 4th quarter. First Quadrant L P CA now owns 1,496 shares of the software maker’s stock valued at $90,000 after purchasing an additional 1,229 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in Paylocity in the 4th quarter valued at $114,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Paylocity by 23.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,141 shares of the software maker’s stock valued at $129,000 after purchasing an additional 407 shares in the last quarter. Hedge funds and other institutional investors own 65.29% of the company’s stock.

Several brokerages have recently weighed in on PCTY. SunTrust Banks upped their price target on Paylocity to $108.00 and gave the company a “positive” rating in a research report on Friday, May 3rd. Jefferies Financial Group upped their target price on Paylocity from $85.00 to $103.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Craig Hallum reiterated a “hold” rating and issued a $97.00 target price (up from $78.00) on shares of Paylocity in a report on Friday, May 3rd. KeyCorp initiated coverage on Paylocity in a report on Tuesday, April 16th. They issued an “overweight” rating and a $104.00 target price for the company. Finally, ValuEngine cut Paylocity from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $88.57.

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Paylocity Company Profile

Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.

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