Kenneth Robinson Sells 800 Shares of Paylocity (NASDAQ:PCTY) Stock

Paylocity Holding Corporation (NASDAQ:PCTY) Director Kenneth Robinson sold 800 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $158.41, for a total value of $126,728.00. Following the completion of the sale, the director owned 6,745 shares of the company’s stock, valued at approximately $1,068,475.45. This trade represents a 10.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Paylocity Stock Down 2.6%

Shares of NASDAQ PCTY opened at $156.02 on Wednesday. The firm’s 50-day simple moving average is $133.64 and its 200 day simple moving average is $116.91. The company has a market cap of $8.28 billion, a price-to-earnings ratio of 31.52 and a beta of 0.45. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a 12-month low of $92.99 and a 12-month high of $178.91.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.22. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The firm had revenue of $444.73 million during the quarter, compared to analysts’ expectations of $431.46 million. During the same quarter last year, the company posted $1.56 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, research analysts expect that Paylocity Holding Corporation will post 6.92 earnings per share for the current fiscal year.

Institutional Trading of Paylocity

A number of institutional investors have recently bought and sold shares of PCTY. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Paylocity by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,388 shares of the software maker’s stock valued at $25,551,000 after acquiring an additional 7,594 shares during the last quarter. Focus Partners Wealth grew its stake in shares of Paylocity by 24.5% during the first quarter. Focus Partners Wealth now owns 1,365 shares of the software maker’s stock worth $256,000 after purchasing an additional 269 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Paylocity by 537.0% during the second quarter. EverSource Wealth Advisors LLC now owns 465 shares of the software maker’s stock worth $84,000 after purchasing an additional 392 shares during the period. Marshall Wace LLP increased its holdings in Paylocity by 2,782.7% in the second quarter. Marshall Wace LLP now owns 35,688 shares of the software maker’s stock valued at $6,466,000 after purchasing an additional 34,450 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in Paylocity by 10.0% in the second quarter. Cerity Partners LLC now owns 19,241 shares of the software maker’s stock valued at $3,486,000 after purchasing an additional 1,749 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on PCTY. KeyCorp boosted their price objective on shares of Paylocity from $172.00 to $178.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. UBS Group boosted their target price on Paylocity from $122.00 to $128.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. BMO Capital Markets upped their price target on Paylocity from $143.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Citigroup reiterated a “buy” rating on shares of Paylocity in a report on Thursday, August 6th. Finally, Robert W. Baird set a $201.00 price objective on Paylocity in a research report on Wednesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $160.53.

Paylocity Company Profile

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.