Paylocity Holding Corp (NASDAQ:PCTY) Director Ronald V. Waters sold 484 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $105.10, for a total transaction of $50,868.40. Following the transaction, the director now owns 26,200 shares of the company’s stock, valued at $2,753,620. The transaction was disclosed in a filing with the SEC, which is available through this link.

NASDAQ PCTY traded up $3.22 on Wednesday, hitting $109.47. 363,813 shares of the company were exchanged, compared to its average volume of 333,499. The company has a market cap of $5.53 billion, a PE ratio of 101.36, a PEG ratio of 4.90 and a beta of 1.69. Paylocity Holding Corp has a 12 month low of $53.46 and a 12 month high of $111.61. The stock has a fifty day moving average of $103.25 and a 200-day moving average of $94.04.

Paylocity (NASDAQ:PCTY) last issued its earnings results on Thursday, August 8th. The software maker reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.27. Paylocity had a net margin of 11.57% and a return on equity of 18.19%. The business had revenue of $120.37 million for the quarter, compared to analyst estimates of $117.51 million. During the same period in the prior year, the firm earned $0.11 earnings per share. Paylocity’s revenue was up 24.6% on a year-over-year basis. As a group, research analysts anticipate that Paylocity Holding Corp will post 1.06 earnings per share for the current year.

PCTY has been the topic of a number of analyst reports. Cantor Fitzgerald initiated coverage on shares of Paylocity in a research note on Tuesday, June 18th. They issued an “overweight” rating on the stock. Raymond James increased their target price on shares of Paylocity from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, May 17th. Jefferies Financial Group increased their target price on shares of Paylocity to $115.00 in a research note on Thursday, August 8th. Royal Bank of Canada reissued a “neutral” rating on shares of Paylocity in a research note on Sunday, August 11th. Finally, Craig Hallum reissued a “hold” rating and set a $97.00 target price (up from $78.00) on shares of Paylocity in a research note on Friday, May 3rd. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $105.73.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCTY. Invesco Ltd. raised its holdings in Paylocity by 636.8% during the second quarter. Invesco Ltd. now owns 757,846 shares of the software maker’s stock worth $71,101,000 after buying an additional 654,996 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Paylocity by 8,106.1% in the second quarter. Nuveen Asset Management LLC now owns 267,356 shares of the software maker’s stock valued at $25,083,000 after purchasing an additional 264,098 shares during the last quarter. Norges Bank purchased a new stake in shares of Paylocity in the fourth quarter valued at about $12,819,000. Wasatch Advisors Inc. raised its holdings 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 purchasing an additional 171,514 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Paylocity in the first quarter valued at about $13,600,000. Hedge funds and other institutional investors own 63.02% of the company’s stock.

Paylocity Company Profile

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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