Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $85,199.40 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Bernard Robinson Kenneth sold 330 shares of the business’s stock in a transaction that occurred on Monday, September 13th. The stock was sold at an average price of $258.18, for a total transaction of $85,199.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of PCTY stock traded up $5.80 during mid-day trading on Wednesday, reaching $272.80. The company’s stock had a trading volume of 20,970 shares, compared to its average volume of 229,097. Paylocity Holding Co. has a 1-year low of $139.31 and a 1-year high of $275.45. The company has a market cap of $14.90 billion, a P/E ratio of 217.80 and a beta of 1.31. The firm’s 50-day moving average is $233.23 and its two-hundred day moving average is $198.83.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, August 5th. The software maker reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.39. Paylocity had a net margin of 11.14% and a return on equity of 16.19%. On average, analysts forecast that Paylocity Holding Co. will post 1.15 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its stake in shares of Paylocity by 27.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 51,000 shares of the software maker’s stock valued at $9,730,000 after buying an additional 10,931 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Paylocity by 18.3% in the 1st quarter. Sei Investments Co. now owns 49,188 shares of the software maker’s stock worth $8,845,000 after purchasing an additional 7,598 shares during the last quarter. Paradiem LLC grew its holdings in shares of Paylocity by 24.1% in the 1st quarter. Paradiem LLC now owns 15,054 shares of the software maker’s stock worth $2,668,000 after purchasing an additional 2,924 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Paylocity by 3.3% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 12,840 shares of the software maker’s stock worth $2,450,000 after purchasing an additional 416 shares during the last quarter. Finally, Alpha DNA Investment Management LLC bought a new stake in shares of Paylocity in the 2nd quarter worth about $1,448,000. Institutional investors own 68.82% of the company’s stock.

Several research firms recently issued reports on PCTY. Wolfe Research upped their price objective on shares of Paylocity from $180.00 to $230.00 and gave the stock a “peer perform” rating in a report on Friday, August 6th. JMP Securities upped their price objective on shares of Paylocity from $220.00 to $272.00 and gave the stock an “outperform” rating in a report on Friday, August 6th. Mizuho upped their price objective on shares of Paylocity from $175.00 to $220.00 and gave the stock a “neutral” rating in a report on Monday, August 9th. Citigroup reaffirmed a “neutral” rating and set a $203.71 price objective (up from $194.00) on shares of Paylocity in a report on Monday, July 26th. Finally, Raymond James upped their price objective on shares of Paylocity from $205.00 to $270.00 and gave the stock an “outperform” rating in a report on Friday, August 6th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Paylocity presently has an average rating of “Buy” and a consensus target price of $216.86.

About Paylocity

Paylocity Holding Corp. engages in the development and provision of cloud-based software solution. It offers cloud-based payroll, human capital management applications, time labor tracking, benefits administration, and talent management. The company was founded by Steve I. Sarowitz in 1997 and is headquartered in Schaumburg, IL.

Featured Story: What is the quiet period?

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.