Nicholas Rost Sells 331 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) CAO Nicholas Rost sold 331 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $138.73, for a total value of $45,919.63. Following the transaction, the chief accounting officer now directly owns 4,751 shares of the company’s stock, valued at approximately $659,106.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Paylocity Stock Down 3.0 %

PCTY opened at $133.87 on Thursday. Paylocity Holding Co. has a 52 week low of $133.72 and a 52 week high of $230.52. The business has a fifty day simple moving average of $155.25 and a 200-day simple moving average of $161.33. The firm has a market cap of $7.55 billion, a P/E ratio of 38.92, a P/E/G ratio of 2.45 and a beta of 0.89.

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

Wall Street Analysts Forecast Growth

PCTY has been the subject of a number of analyst reports. Barclays upped their price target on Paylocity from $166.00 to $178.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Piper Sandler dropped their price target on Paylocity from $210.00 to $194.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. KeyCorp upped their price target on Paylocity from $186.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Stifel Nicolaus dropped their price target on Paylocity from $205.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Finally, TD Cowen dropped their price target on Paylocity from $188.00 to $180.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $194.29.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Venturi Wealth Management LLC raised its stake in shares of Paylocity by 144.1% in the first quarter. Venturi Wealth Management LLC now owns 166 shares of the software maker’s stock valued at $29,000 after acquiring an additional 98 shares in the last quarter. American National Bank acquired a new stake in shares of Paylocity in the fourth quarter valued at $31,000. GAMMA Investing LLC acquired a new stake in shares of Paylocity in the fourth quarter valued at $36,000. Principal Securities Inc. acquired a new stake in shares of Paylocity in the fourth quarter valued at $41,000. Finally, J.Safra Asset Management Corp raised its stake in shares of Paylocity by 80.0% in the first quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock valued at $42,000 after acquiring an additional 108 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Paylocity Company Profile

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.