Paylocity Holding Co. (NASDAQ:PCTY) CFO Sells $196,084.00 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) CFO Ryan Glenn sold 1,400 shares of Paylocity stock in a transaction on Monday, July 15th. The shares were sold at an average price of $140.06, for a total transaction of $196,084.00. Following the completion of the sale, the chief financial officer now directly owns 31,074 shares of the company’s stock, valued at approximately $4,352,224.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Paylocity Stock Down 0.5 %

PCTY stock traded down $0.77 during midday trading on Wednesday, reaching $149.95. The stock had a trading volume of 384,654 shares, compared to its average volume of 527,120. The firm has a market cap of $8.46 billion, a price-to-earnings ratio of 43.81, a PEG ratio of 2.54 and a beta of 0.92. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $230.52. The business has a fifty day simple moving average of $145.93 and a two-hundred day simple moving average of $157.89.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, May 2nd. The software maker reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.29. Paylocity had a net margin of 14.42% and a return on equity of 22.08%. The business had revenue of $401.28 million during the quarter, compared to the consensus estimate of $396.93 million. On average, equities analysts predict that Paylocity Holding Co. will post 3.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PCTY. Stifel Nicolaus cut their target price on shares of Paylocity from $205.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. TD Cowen cut their target price on shares of Paylocity from $180.00 to $153.00 and set a “buy” rating for the company in a research report on Thursday, June 20th. Citigroup cut their target price on shares of Paylocity from $178.00 to $155.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Barclays cut their target price on shares of Paylocity from $178.00 to $160.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, KeyCorp boosted their target price on shares of Paylocity from $186.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Paylocity currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.59.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. WCM Investment Management LLC boosted its holdings in Paylocity by 2.3% during the first quarter. WCM Investment Management LLC now owns 3,053 shares of the software maker’s stock worth $525,000 after buying an additional 69 shares during the last quarter. Avior Wealth Management LLC raised its position in shares of Paylocity by 2.4% in the 4th quarter. Avior Wealth Management LLC now owns 3,223 shares of the software maker’s stock valued at $531,000 after acquiring an additional 76 shares during the period. Shaker Investments LLC OH raised its position in shares of Paylocity by 0.3% in the 4th quarter. Shaker Investments LLC OH now owns 23,672 shares of the software maker’s stock valued at $3,902,000 after acquiring an additional 77 shares during the period. GAMMA Investing LLC raised its position in shares of Paylocity by 34.7% in the 1st quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock valued at $52,000 after acquiring an additional 78 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in shares of Paylocity by 8.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,246 shares of the software maker’s stock valued at $205,000 after acquiring an additional 96 shares during the period. 94.76% of the stock is currently owned by institutional investors.

About Paylocity

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.