Paylocity Holding Corp (NASDAQ:PCTY) Director Ellen Carnahan acquired 1,380 shares of the stock in a transaction dated Friday, March 16th. The stock was bought at an average price of $53.91 per share, with a total value of $74,395.80. Following the purchase, the director now directly owns 7,908 shares in the company, valued at $426,320.28. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
Shares of Paylocity stock traded up $0.22 during mid-day trading on Thursday, reaching $55.82. 15,919 shares of the company’s stock were exchanged, compared to its average volume of 271,912. The company has a market cap of $2,883.74, a price-to-earnings ratio of 210.85, a PEG ratio of 8.24 and a beta of 2.13. Paylocity Holding Corp has a fifty-two week low of $34.61 and a fifty-two week high of $57.16.
Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, February 8th. The software maker reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.04. The firm had revenue of $86.00 million for the quarter, compared to the consensus estimate of $85.03 million. Paylocity had a net margin of 3.57% and a return on equity of 8.93%. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 EPS. analysts forecast that Paylocity Holding Corp will post 0.3 EPS for the current fiscal year.
Several analysts have recently weighed in on the stock. First Analysis lifted their price objective on shares of Paylocity from $63.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price objective (up previously from $60.00) on shares of Paylocity in a research note on Thursday, March 15th. SunTrust Banks upgraded shares of Paylocity from a “hold” rating to a “buy” rating and lowered their price objective for the company from $52.72 to $45.00 in a research note on Monday, March 12th. BidaskClub upgraded shares of Paylocity from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Finally, Zacks Investment Research upgraded shares of Paylocity from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $54.57.
Institutional investors and hedge funds have recently bought and sold shares of the business. Fox Run Management L.L.C. purchased a new position in Paylocity during the 4th quarter worth $520,000. Jane Street Group LLC purchased a new position in Paylocity during the 3rd quarter worth $260,000. Prudential Financial Inc. purchased a new position in Paylocity during the 3rd quarter worth $267,000. Bank of Montreal Can boosted its holdings in Paylocity by 103.0% during the 4th quarter. Bank of Montreal Can now owns 7,293 shares of the software maker’s stock worth $344,000 after acquiring an additional 3,700 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in Paylocity by 47.7% during the 3rd quarter. Legal & General Group Plc now owns 11,412 shares of the software maker’s stock worth $556,000 after acquiring an additional 3,686 shares during the last quarter. 62.59% of the stock is currently owned by hedge funds and other institutional investors.
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Paylocity Company Profile
Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (HCM), software solutions for medium-sized organizations. The Company’s services are provided in a software-as-a-service delivery model utilizing its cloud-based platform. The cloud-based platform provides a suite of applications using a multi-tenant architecture.
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