Paylocity (NASDAQ:PCTY) Shares Down 4.3% - Here's Why

Paylocity Holding Co. (NASDAQ:PCTY - Get Free Report)'s stock price was down 4.3% on Monday . The company traded as low as $185.01 and last traded at $185.98. Approximately 119,155 shares traded hands during trading, a decline of 74% from the average daily volume of 450,244 shares. The stock had previously closed at $194.28.

Analyst Ratings Changes

PCTY has been the subject of several recent research reports. Raymond James reiterated an "outperform" rating and set a $235.00 target price (down previously from $265.00) on shares of Paylocity in a research note on Friday, May 2nd. KeyCorp lowered their price objective on shares of Paylocity from $250.00 to $220.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Wall Street Zen raised Paylocity from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. JMP Securities reiterated a "market outperform" rating and set a $270.00 price target on shares of Paylocity in a report on Tuesday, April 29th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $250.00 target price on shares of Paylocity in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $223.00.

Paylocity Trading Down 0.5%

The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market capitalization of $10.28 billion, a price-to-earnings ratio of 47.71, a PEG ratio of 4.49 and a beta of 0.53. The business's 50-day simple moving average is $189.70 and its two-hundred day simple moving average is $196.79.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, topping the consensus estimate of $2.09 by $0.34. The firm had revenue of $454.55 million for the quarter, compared to analyst estimates of $441.77 million. Paylocity had a return on equity of 22.45% and a net margin of 14.76%. Paylocity's revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.21 EPS. On average, research analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Insider Transactions at Paylocity

In related news, Director Steven I. Sarowitz sold 23,243 shares of Paylocity stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $191.00, for a total value of $4,439,413.00. Following the completion of the sale, the director now owns 470,452 shares in the company, valued at approximately $89,856,332. The trade was a 4.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 21.91% of the company's stock.

Institutional Trading of Paylocity

Several institutional investors and hedge funds have recently bought and sold shares of PCTY. TCTC Holdings LLC boosted its holdings in shares of Paylocity by 115.9% in the 1st quarter. TCTC Holdings LLC now owns 149 shares of the software maker's stock valued at $28,000 after buying an additional 80 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Paylocity in the 4th quarter worth approximately $29,000. USA Financial Formulas bought a new position in Paylocity during the 1st quarter valued at $29,000. Hughes Financial Services LLC acquired a new position in Paylocity during the first quarter worth about $48,000. Finally, EverSource Wealth Advisors LLC raised its position in Paylocity by 489.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock worth $54,000 after acquiring an additional 225 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Paylocity Company Profile

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.