Nicholas Rost Sells 132 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) CAO Nicholas Rost sold 132 shares of Paylocity stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $165.06, for a total value of $21,787.92. Following the completion of the transaction, the chief accounting officer now directly owns 7,775 shares of the company’s stock, valued at $1,283,341.50. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Paylocity Trading Down 1.1 %

Shares of Paylocity stock opened at $161.39 on Friday. The stock has a fifty day simple moving average of $155.45 and a 200 day simple moving average of $154.78. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $206.28. The company has a market capitalization of $9.11 billion, a P/E ratio of 46.92, a price-to-earnings-growth ratio of 3.98 and a beta of 0.94.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, August 1st. The software maker reported $1.48 EPS for the quarter, beating the consensus estimate of $1.29 by $0.19. Paylocity had a net margin of 14.74% and a return on equity of 22.17%. The company had revenue of $357.30 million during the quarter, compared to the consensus estimate of $350.29 million. During the same quarter in the prior year, the company posted $0.76 earnings per share. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, analysts predict that Paylocity Holding Co. will post 4.51 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PCTY shares. Stifel Nicolaus lowered their target price on Paylocity from $205.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Needham & Company LLC reiterated a “buy” rating and issued a $200.00 price objective on shares of Paylocity in a research note on Thursday, September 5th. Barclays cut their target price on shares of Paylocity from $160.00 to $156.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. KeyCorp decreased their price target on shares of Paylocity from $200.00 to $171.00 and set an “overweight” rating for the company in a research note on Friday, July 19th. Finally, Citigroup dropped their price objective on shares of Paylocity from $178.00 to $155.00 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $179.13.

Institutional Investors Weigh In On Paylocity

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. J.Safra Asset Management Corp grew its holdings 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. Rothschild Investment LLC bought a new stake in Paylocity during the second quarter worth $40,000. GAMMA Investing LLC boosted its position in Paylocity by 34.7% in the first quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock worth $52,000 after purchasing an additional 78 shares during the last quarter. RiverPark Advisors LLC grew its stake in Paylocity by 152.0% in the 1st quarter. RiverPark Advisors LLC now owns 383 shares of the software maker’s stock valued at $66,000 after purchasing an additional 231 shares during the period. Finally, Advisors Asset Management Inc. increased its position in shares of Paylocity by 46.6% during the 1st quarter. Advisors Asset Management Inc. now owns 428 shares of the software maker’s stock valued at $74,000 after purchasing an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

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.