Paylocity (PCTY) Hits New 52-Week High and Low at $63.21

Paylocity Holding Corp (NASDAQ:PCTY)’s share price hit a new 52-week high and low on Thursday . The company traded as low as $63.21 and last traded at $61.88, with a volume of 3942 shares. The stock had previously closed at $62.75.

A number of equities analysts have weighed in on PCTY shares. TheStreet raised shares of Paylocity from a “c+” rating to a “b+” rating in a research note on Wednesday, May 23rd. BidaskClub downgraded shares of Paylocity from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 3rd. ValuEngine raised shares of Paylocity from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 target price (up from $60.00) on shares of Paylocity in a research note on Thursday, March 15th. Finally, SunTrust Banks raised shares of Paylocity from a “hold” rating to a “buy” rating and dropped their target price for the stock from $52.72 to $45.00 in a research note on Monday, March 12th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Paylocity presently has an average rating of “Buy” and a consensus target price of $55.33.

The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 410.60, a P/E/G ratio of 7.14 and a beta of 2.00.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, May 3rd. The software maker reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.39. The business had revenue of $113.41 million during the quarter, compared to the consensus estimate of $110.74 million. Paylocity had a net margin of 10.17% and a return on equity of 11.74%. Paylocity’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 earnings per share. equities analysts predict that Paylocity Holding Corp will post 0.38 EPS for the current fiscal year.

In related news, CEO Steven R. Beauchamp sold 80,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $55.37, for a total transaction of $4,429,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael R. Haske sold 39,862 shares of the business’s stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $60.04, for a total transaction of $2,393,314.48. Following the transaction, the chief operating officer now owns 1,073,606 shares of the company’s stock, valued at approximately $64,459,304.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 244,072 shares of company stock valued at $13,904,094. 48.80% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. grew its holdings in Paylocity by 4.5% during the first quarter. Principal Financial Group Inc. now owns 21,816 shares of the software maker’s stock valued at $1,117,000 after purchasing an additional 943 shares during the period. California Public Employees Retirement System grew its holdings in Paylocity by 16.2% during the fourth quarter. California Public Employees Retirement System now owns 8,600 shares of the software maker’s stock valued at $406,000 after purchasing an additional 1,200 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Paylocity by 17.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 8,293 shares of the software maker’s stock valued at $425,000 after purchasing an additional 1,244 shares during the period. UBS Asset Management Americas Inc. grew its holdings in Paylocity by 8.4% during the fourth quarter. UBS Asset Management Americas Inc. now owns 17,270 shares of the software maker’s stock valued at $814,000 after purchasing an additional 1,339 shares during the period. Finally, OppenheimerFunds Inc. grew its holdings in Paylocity by 0.5% during the first quarter. OppenheimerFunds Inc. now owns 302,713 shares of the software maker’s stock valued at $15,508,000 after purchasing an additional 1,427 shares during the period. Hedge funds and other institutional investors own 63.10% of the company’s stock.

About Paylocity

Paylocity Holding Corporation provides cloud-based payroll and human capital management (HCM) software solutions for medium-sized organizations in the United States. It offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management and HR compliance and reporting; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.

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