Steven I. Sarowitz Sells 144,124 Shares of Paylocity Holding Corp (PCTY) Stock

Paylocity Holding Corp (NASDAQ:PCTY) Director Steven I. Sarowitz sold 144,124 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $64.75, for a total transaction of $9,332,029.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of PCTY stock opened at $68.07 on Friday. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 214.61, a P/E/G ratio of 6.97 and a beta of 1.94. Paylocity Holding Corp has a 12-month low of $41.15 and a 12-month high of $68.50.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, August 9th. The software maker reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.01). The company had revenue of $96.62 million for the quarter, compared to analyst estimates of $93.33 million. Paylocity had a return on equity of 13.21% and a net margin of 10.22%. The company’s revenue was up 27.0% on a year-over-year basis. During the same quarter last year, the business earned $0.09 earnings per share. sell-side analysts anticipate that Paylocity Holding Corp will post 0.44 EPS for the current fiscal year.

Several equities research analysts recently issued reports on PCTY shares. TheStreet upgraded shares of Paylocity from a “c+” rating to a “b+” rating in a research note on Wednesday, May 23rd. BidaskClub downgraded shares of Paylocity from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 25th. Stifel Nicolaus raised their target price on shares of Paylocity from $50.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, May 4th. Robert W. Baird reiterated a “buy” rating and issued a $68.00 target price on shares of Paylocity in a research note on Friday, August 10th. Finally, Needham & Company LLC raised their target price on shares of Paylocity from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, August 10th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Paylocity presently has an average rating of “Buy” and a consensus price target of $63.69.

A number of hedge funds have recently modified their holdings of the business. California Public Employees Retirement System lifted its position in Paylocity by 29.3% during the second quarter. California Public Employees Retirement System now owns 46,344 shares of the software maker’s stock worth $2,728,000 after acquiring an additional 10,506 shares during the last quarter. Putnam Investments LLC acquired a new stake in Paylocity during the second quarter worth approximately $1,966,000. MetLife Investment Advisors LLC lifted its position in Paylocity by 8.0% during the second quarter. MetLife Investment Advisors LLC now owns 13,301 shares of the software maker’s stock worth $783,000 after acquiring an additional 989 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its position in Paylocity by 13.4% during the second quarter. Metropolitan Life Insurance Co. NY now owns 9,895 shares of the software maker’s stock worth $582,000 after acquiring an additional 1,166 shares during the last quarter. Finally, Tower Research Capital LLC TRC acquired a new stake in Paylocity during the second quarter worth approximately $102,000. Hedge funds and other institutional investors own 63.84% of the company’s stock.

Paylocity Company Profile

Paylocity Holding Corporation provides cloud-based payroll and human capital management (HCM) software solutions for medium-sized organizations in the United States. It offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management and HR compliance and reporting; 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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Insider Buying and Selling by Quarter for Paylocity (NASDAQ:PCTY)

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