Paylocity Holding Corporation (PCTY) Director Steven I. Sarowitz Sells 200,000 Shares of Stock
Paylocity Holding Corporation (NASDAQ:PCTY) Director Steven I. Sarowitz sold 200,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $44.81, for a total value of $8,962,000.00. Following the completion of the transaction, the director now directly owns 16,212,317 shares in the company, valued at $726,473,924.77. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Paylocity Holding Corporation (NASDAQ PCTY) opened at 46.19 on Wednesday. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 384.92 and a beta of 2.26. Paylocity Holding Corporation has a 52 week low of $29.69 and a 52 week high of $49.65. The firm has a 50-day moving average price of $45.64 and a 200-day moving average price of $41.58.
Paylocity Holding Corporation (NASDAQ:PCTY) last posted its earnings results on Thursday, August 10th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The company had revenue of $76.10 million during the quarter, compared to the consensus estimate of $73.79 million. Paylocity Holding Corporation had a net margin of 2.24% and a return on equity of 6.33%. The firm’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.01) earnings per share. On average, equities analysts anticipate that Paylocity Holding Corporation will post $0.79 earnings per share for the current year.
A number of brokerages recently commented on PCTY. ValuEngine raised Paylocity Holding Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. SunTrust Banks, Inc. began coverage on Paylocity Holding Corporation in a report on Monday, June 26th. They issued a “hold” rating and a $45.00 target price on the stock. Zacks Investment Research cut Paylocity Holding Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. JMP Securities reaffirmed an “outperform” rating and issued a $54.00 target price on shares of Paylocity Holding Corporation in a report on Tuesday, July 18th. Finally, BidaskClub cut Paylocity Holding Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $51.17.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC purchased a new position in shares of Paylocity Holding Corporation during the second quarter worth $29,148,000. MARSHALL WACE ASIA Ltd purchased a new position in shares of Paylocity Holding Corporation during the first quarter worth $16,054,000. Marshall Wace North America L.P. purchased a new position in shares of Paylocity Holding Corporation during the first quarter worth $16,054,000. Tudor Investment Corp ET AL increased its position in shares of Paylocity Holding Corporation by 2,737.3% in the first quarter. Tudor Investment Corp ET AL now owns 314,709 shares of the software maker’s stock worth $12,157,000 after buying an additional 303,617 shares during the period. Finally, Blair William & Co. IL increased its position in shares of Paylocity Holding Corporation by 70.1% in the second quarter. Blair William & Co. IL now owns 545,439 shares of the software maker’s stock worth $24,643,000 after buying an additional 224,771 shares during the period. Institutional investors and hedge funds own 62.97% of the company’s stock.
About Paylocity Holding Corporation
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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