Paylocity Holding Corporation (NASDAQ:PCTY) Director Steven I. Sarowitz sold 1,296,142 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $46.14, for a total value of $59,803,991.88. Following the sale, the director now owns 15,343,130 shares of the company’s stock, valued at approximately $707,932,018.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of Paylocity Holding Corporation (NASDAQ:PCTY) opened at $47.85 on Friday. Paylocity Holding Corporation has a 52-week low of $29.69 and a 52-week high of $53.96. The company has a market capitalization of $2,509.78, a P/E ratio of 217.23, a price-to-earnings-growth ratio of 6.27 and a beta of 2.24.

Paylocity Holding Corporation (NASDAQ:PCTY) last announced its quarterly earnings data 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 Holding Corporation had a return on equity of 7.98% and a net margin of 3.11%. The company had revenue of $81.50 million during the quarter, compared to the consensus estimate of $80.88 million. During the same quarter last year, the company earned $0.07 EPS. The company’s quarterly revenue was up 25.4% on a year-over-year basis. equities analysts expect that Paylocity Holding Corporation will post 0.32 earnings per share for the current year.

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Several hedge funds have recently made changes to their positions in PCTY. Janus Henderson Group PLC bought a new stake in shares of Paylocity Holding Corporation in the 2nd quarter worth approximately $29,148,000. Alyeska Investment Group L.P. lifted its position in shares of Paylocity Holding Corporation by 56.3% in 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 during the period. Blair William & Co. IL lifted its position in shares of Paylocity Holding Corporation by 70.1% in the 2nd quarter. Blair William & Co. IL now owns 545,439 shares of the software maker’s stock worth $24,643,000 after acquiring an additional 224,771 shares during the period. Palisade Capital Management LLC NJ bought a new stake in shares of Paylocity Holding Corporation in the 2nd quarter worth approximately $5,092,000. Finally, FMR LLC lifted its position in shares of Paylocity Holding Corporation by 5.2% in 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 during the period. Institutional investors own 59.88% of the company’s stock.

PCTY has been the subject of several recent analyst reports. ValuEngine upgraded Paylocity Holding Corporation from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Robert W. Baird increased their target price on Paylocity Holding Corporation from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Bank of America Corporation increased their target price on Paylocity Holding Corporation from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, October 24th. Mizuho restated a “hold” rating and set a $45.00 target price on shares of Paylocity Holding Corporation in a research note on Thursday, October 12th. Finally, TheStreet upgraded Paylocity Holding Corporation from a “c” rating to a “b-” rating in a research note on Friday, November 3rd. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Paylocity Holding Corporation presently has an average rating of “Buy” and a consensus target price of $52.92.

Paylocity Holding Corporation Company Profile

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.

Insider Buying and Selling by Quarter for Paylocity Holding Corporation (NASDAQ:PCTY)

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