Paylocity Holding Co. (NASDAQ:PCTY) CAO Sells $21,787.92 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) CAO Nicholas Rost sold 132 shares of Paylocity stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $165.06, for a total transaction of $21,787.92. Following the completion of the sale, the chief accounting officer now directly owns 7,775 shares in the company, valued at approximately $1,283,341.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Paylocity Stock Down 1.1 %

Paylocity stock opened at $161.39 on Friday. The business has a 50-day simple moving average of $155.45 and a 200 day simple moving average of $154.78. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $206.28. The stock has a market cap of $9.11 billion, a price-to-earnings ratio of 46.92, a PEG ratio of 3.98 and a beta of 0.94.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, August 1st. The software maker reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.19. Paylocity had a net margin of 14.74% and a return on equity of 22.17%. The business had revenue of $357.30 million for the quarter, compared to the consensus estimate of $350.29 million. During the same period last year, the firm posted $0.76 earnings per share. Paylocity’s quarterly revenue was up 15.8% on a year-over-year basis. On average, research analysts anticipate that Paylocity Holding Co. will post 4.51 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PCTY shares. Barclays decreased their target price on Paylocity from $160.00 to $156.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Citigroup decreased their price objective on Paylocity from $178.00 to $155.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. BTIG Research dropped their price objective on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Jefferies Financial Group reduced their target price on shares of Paylocity from $180.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Finally, Piper Sandler dropped their price target on shares of Paylocity from $194.00 to $172.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Paylocity currently has a consensus rating of “Moderate Buy” and an average target price of $179.13.

Institutional Trading of Paylocity

Hedge funds have recently made changes to their positions in the stock. Sei Investments Co. raised its position in Paylocity by 25.2% during the fourth quarter. Sei Investments Co. now owns 192,028 shares of the software maker’s stock valued at $31,654,000 after purchasing an additional 38,613 shares in the last quarter. Evoke Wealth LLC purchased a new position in shares of Paylocity during the 4th quarter valued at about $2,507,000. Wells Fargo & Company MN lifted its position in Paylocity by 274.8% in the 4th quarter. Wells Fargo & Company MN now owns 65,010 shares of the software maker’s stock worth $10,717,000 after buying an additional 47,663 shares during the last quarter. FORA Capital LLC purchased a new stake in Paylocity in the first quarter worth approximately $1,540,000. Finally, Royal London Asset Management Ltd. purchased a new position in shares of Paylocity during the fourth quarter worth approximately $1,938,000. 94.76% of the stock is owned by institutional investors.

About Paylocity

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.