Paylocity Holding Corporation (NASDAQ:PCTY - Get Free Report) shares were down 5% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $175.82 and last traded at $173.49. Approximately 83,828 shares traded hands during trading, a decline of 82% from the average daily volume of 453,549 shares. The stock had previously closed at $182.62.
Specifically, SVP Andrew Cappotelli sold 1,717 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $176.74, for a total value of $303,462.58. Following the sale, the senior vice president now owns 11,953 shares in the company, valued at $2,112,573.22. This represents a 12.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the company. Raymond James Financial reaffirmed an "outperform" rating and issued a $235.00 target price (down previously from $265.00) on shares of Paylocity in a research note on Friday, May 2nd. JMP Securities reaffirmed a "market outperform" rating and issued a $270.00 target price on shares of Paylocity in a research note on Tuesday, April 29th. Wall Street Zen raised Paylocity from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. UBS Group upped their target price on Paylocity from $195.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Finally, Scotiabank assumed coverage on Paylocity in a research note on Wednesday, April 16th. They issued a "sector perform" rating and a $190.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $224.75.
Get Our Latest Analysis on PCTY
Paylocity Trading Up 1.4%
The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.20. The company has a market cap of $9.92 billion, a PE ratio of 44.78, a price-to-earnings-growth ratio of 3.61 and a beta of 0.53. The business has a 50 day simple moving average of $188.82 and a two-hundred day simple moving average of $194.20.
Paylocity (NASDAQ:PCTY - Get Free Report) last issued its earnings results on Thursday, May 1st. The software maker reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.34. The business had revenue of $454.55 million for the quarter, compared to analyst estimates of $441.77 million. Paylocity had a return on equity of 22.90% and a net margin of 14.65%. The business's quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the company posted $2.21 EPS. On average, analysts forecast that Paylocity Holding Corporation will post 4.36 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in PCTY. Vanguard Group Inc. increased its holdings in Paylocity by 7.0% in the 1st quarter. Vanguard Group Inc. now owns 4,312,832 shares of the software maker's stock valued at $807,966,000 after purchasing an additional 283,430 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Paylocity by 3.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,287,514 shares of the software maker's stock valued at $803,224,000 after purchasing an additional 141,705 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Paylocity by 0.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,987,037 shares of the software maker's stock valued at $746,932,000 after purchasing an additional 13,027 shares in the last quarter. Invesco Ltd. increased its holdings in Paylocity by 31.7% in the 4th quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker's stock valued at $265,737,000 after purchasing an additional 320,319 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Paylocity by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 1,073,988 shares of the software maker's stock valued at $214,275,000 after purchasing an additional 25,182 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.
About Paylocity
(
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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.
Further Reading
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