Paylocity Holding Corp (PCTY) Director Sells $5,875,400.00 in Stock

Paylocity Holding Corp (NASDAQ:PCTY) Director Steven I. Sarowitz sold 72,500 shares of Paylocity stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $81.04, for a total value of $5,875,400.00. Following the completion of the transaction, the director now owns 14,735,730 shares of the company’s stock, valued at approximately $1,194,183,559.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

NASDAQ PCTY traded up $0.65 during trading on Monday, hitting $83.30. The stock had a trading volume of 360,797 shares, compared to its average volume of 244,357. The company has a market cap of $4.37 billion, a P/E ratio of 268.71, a PEG ratio of 8.35 and a beta of 2.03. Paylocity Holding Corp has a one year low of $42.43 and a one year high of $88.47.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Wednesday, February 6th. The software maker reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.11). The firm had revenue of $107.20 million during the quarter, compared to the consensus estimate of $104.68 million. Paylocity had a return on equity of 13.43% and a net margin of 12.81%. The firm’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.16 EPS. As a group, research analysts predict that Paylocity Holding Corp will post 0.5 earnings per share for the current fiscal year.

Several research firms recently commented on PCTY. BidaskClub upgraded Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday, December 15th. Zacks Investment Research upgraded Paylocity from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. ValuEngine upgraded Paylocity from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 4th. Bank of America dropped their price target on Paylocity from $91.00 to $78.00 and set a “buy” rating for the company in a research report on Friday, November 2nd. Finally, Craig Hallum raised their price objective on shares of Paylocity from $65.00 to $78.00 and gave the stock a “hold” rating in a research note on Thursday. Six analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $77.33.

Several institutional investors have recently bought and sold shares of the company. OLD National Bancorp IN raised its stake in shares of Paylocity by 7.0% during the fourth quarter. OLD National Bancorp IN now owns 4,048 shares of the software maker’s stock valued at $244,000 after acquiring an additional 266 shares in the last quarter. Renaissance Group LLC raised its stake in Paylocity by 4.3% in the fourth quarter. Renaissance Group LLC now owns 8,360 shares of the software maker’s stock worth $503,000 after buying an additional 342 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Paylocity by 23.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,141 shares of the software maker’s stock worth $129,000 after buying an additional 407 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Paylocity by 8.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,284 shares of the software maker’s stock worth $438,000 after buying an additional 541 shares in the last quarter. Finally, D.A. Davidson & CO. raised its stake in Paylocity by 8.0% in the fourth quarter. D.A. Davidson & CO. now owns 7,692 shares of the software maker’s stock worth $463,000 after buying an additional 567 shares in the last quarter. 64.93% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: This piece of content was first reported by Markets Daily and is the sole property of of Markets Daily. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this piece of content can be viewed at https://www.themarketsdaily.com/2019/02/11/paylocity-holding-corp-pcty-director-sells-5875400-00-in-stock.html.

About Paylocity

Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; 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.

See Also: What is the downside to momentum investing?

Insider Buying and Selling by Quarter for Paylocity (NASDAQ:PCTY)

Receive News & Ratings for Paylocity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paylocity and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply