Paylocity Holding Corp (NASDAQ:PCTY) shares traded down 7.3% during trading on Monday . The company traded as low as $90.05 and last traded at $92.37, 520,104 shares traded hands during mid-day trading. An increase of 60% from the average session volume of 324,475 shares. The stock had previously closed at $99.68.
Several research firms have recently issued reports on PCTY. JMP Securities raised their price target on Paylocity to $115.00 and gave the stock a “market perform” rating in a research report on Monday, July 22nd. Jefferies Financial Group raised their price target on Paylocity from $85.00 to $103.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Craig Hallum restated a “hold” rating and issued a $97.00 price target (up from $78.00) on shares of Paylocity in a research report on Friday, May 3rd. KeyCorp raised their price target on Paylocity from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, Raymond James raised their price target on Paylocity from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, May 17th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $93.14.
The firm’s 50 day moving average price is $100.99. The stock has a market capitalization of $4.89 billion, a PE ratio of 297.97, a price-to-earnings-growth ratio of 5.53 and a beta of 1.69.
In other Paylocity news, SVP Edward W. Gaty sold 7,768 shares of Paylocity stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $97.54, for a total value of $757,690.72. Following the sale, the senior vice president now owns 126,392 shares of the company’s stock, valued at approximately $12,328,275.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven R. Beauchamp sold 55,000 shares of Paylocity stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $96.40, for a total value of $5,302,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,881,682 shares in the company, valued at approximately $181,394,144.80. The disclosure for this sale can be found here. Insiders sold a total of 285,192 shares of company stock worth $27,120,606 in the last three months. Company insiders own 41.20% of the company’s stock.
Several large investors have recently added to or reduced their stakes in PCTY. Norges Bank acquired a new stake in shares of Paylocity in the fourth quarter valued at about $12,819,000. Wasatch Advisors Inc. increased its position in shares of Paylocity by 9.3% in the first quarter. Wasatch Advisors Inc. now owns 2,008,033 shares of the software maker’s stock valued at $179,096,000 after acquiring an additional 171,514 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of Paylocity in the first quarter valued at about $13,600,000. Federated Investors Inc. PA increased its position in shares of Paylocity by 380.6% in the first quarter. Federated Investors Inc. PA now owns 190,223 shares of the software maker’s stock valued at $16,966,000 after acquiring an additional 150,642 shares during the last quarter. Finally, FMR LLC increased its position in shares of Paylocity by 19.5% in the fourth quarter. FMR LLC now owns 846,032 shares of the software maker’s stock valued at $50,940,000 after acquiring an additional 138,231 shares during the last quarter. 64.22% of the stock is currently owned by institutional investors and hedge funds.
About Paylocity (NASDAQ:PCTY)
Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; 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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