Steven R. Beauchamp Sells 10,042 Shares of Paylocity Holding Corp (PCTY) Stock

Paylocity Holding Corp (NASDAQ:PCTY) CEO Steven R. Beauchamp sold 10,042 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $50.09, for a total value of $503,003.78. Following the transaction, the chief executive officer now owns 2,180,425 shares of the company’s stock, valued at $109,217,488.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Paylocity Holding Corp (PCTY) opened at $49.99 on Friday. Paylocity Holding Corp has a twelve month low of $29.69 and a twelve month high of $53.96. The company has a market capitalization of $2,607.99, a P/E ratio of 225.73, a P/E/G ratio of 6.52 and a beta of 2.11.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, November 2nd. The software maker reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.17. Paylocity had a return on equity of 7.98% and a net margin of 3.11%. The company had revenue of $81.50 million for the quarter, compared to analysts’ expectations of $80.88 million. During the same period in the previous year, the firm earned $0.07 EPS. The firm’s revenue was up 25.4% compared to the same quarter last year. analysts anticipate that Paylocity Holding Corp will post 0.33 EPS for the current year.

PCTY has been the subject of a number of recent research reports. Zacks Investment Research downgraded Paylocity from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Robert W. Baird boosted their price objective on Paylocity from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. TheStreet downgraded Paylocity from a “b-” rating to a “c+” rating in a research note on Tuesday, December 5th. Dougherty & Co initiated coverage on Paylocity in a research note on Tuesday, December 19th. They set a “neutral” rating for the company. Finally, Bank of America boosted their price objective on Paylocity from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, October 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $52.92.

Several institutional investors and hedge funds have recently modified their holdings of PCTY. Janus Henderson Group PLC purchased a new stake in shares of Paylocity during the 2nd quarter worth approximately $29,148,000. Alyeska Investment Group L.P. raised its holdings in shares of Paylocity by 56.3% during the 3rd quarter. Alyeska Investment Group L.P. now owns 625,000 shares of the software maker’s stock worth $30,513,000 after acquiring an additional 225,000 shares in the last quarter. Wasatch Advisors Inc. raised its holdings in shares of Paylocity by 24.4% during the 4th quarter. Wasatch Advisors Inc. now owns 1,071,943 shares of the software maker’s stock worth $50,553,000 after acquiring an additional 210,556 shares in the last quarter. FMR LLC raised its holdings in shares of Paylocity by 5.2% during the 2nd quarter. FMR LLC now owns 1,963,017 shares of the software maker’s stock worth $88,689,000 after acquiring an additional 97,368 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Paylocity by 76.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 199,508 shares of the software maker’s stock worth $9,014,000 after acquiring an additional 86,262 shares in the last quarter. 59.78% of the stock is currently owned by institutional investors and hedge funds.

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About Paylocity

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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