Paylocity Holding Co. (NASDAQ:PCTY) Director Bernard Robinson Kenneth Sells 330 Shares

Paylocity Holding Co. (NASDAQ:PCTY) Director Bernard Robinson Kenneth sold 330 shares of the company’s stock in a transaction on Monday, September 13th. The stock was sold at an average price of $258.18, for a total value of $85,199.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of PCTY traded up $5.80 during mid-day trading on Wednesday, hitting $272.80. 20,970 shares of the company’s stock were exchanged, compared to its average volume of 229,097. Paylocity Holding Co. has a fifty-two week low of $139.31 and a fifty-two week high of $275.45. The firm has a market capitalization of $14.90 billion, a P/E ratio of 217.80 and a beta of 1.31. The business’s 50 day moving average is $233.23 and its two-hundred day moving average is $198.83.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, August 5th. The software maker reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.39. Paylocity had a net margin of 11.14% and a return on equity of 16.19%. On average, analysts expect that Paylocity Holding Co. will post 1.15 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of PCTY. Allred Capital Management LLC purchased a new position in Paylocity during the first quarter worth about $34,000. Eaton Vance Management purchased a new position in Paylocity during the first quarter worth about $36,000. Rational Advisors LLC purchased a new position in Paylocity during the second quarter worth about $37,000. Advisory Services Network LLC purchased a new position in Paylocity during the second quarter worth about $59,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in Paylocity during the first quarter worth about $103,000. 68.82% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on PCTY shares. JMP Securities boosted their target price on shares of Paylocity from $220.00 to $272.00 and gave the stock an “outperform” rating in a research note on Friday, August 6th. William Blair reiterated a “buy” rating on shares of Paylocity in a research note on Friday, August 6th. Raymond James boosted their target price on shares of Paylocity from $205.00 to $270.00 and gave the stock an “outperform” rating in a research note on Friday, August 6th. Citigroup restated a “neutral” rating and issued a $203.71 price objective (up previously from $194.00) on shares of Paylocity in a research note on Monday, July 26th. Finally, Piper Sandler upped their price objective on shares of Paylocity from $184.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, August 6th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Paylocity has an average rating of “Buy” and a consensus price target of $216.86.

About Paylocity

Paylocity Holding Corp. engages in the development and provision of cloud-based software solution. It offers cloud-based payroll, human capital management applications, time labor tracking, benefits administration, and talent management. The company was founded by Steve I. Sarowitz in 1997 and is headquartered in Schaumburg, IL.

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