Rachit Lohani Sells 658 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

by · The Markets Daily

Paylocity Holding Co. (NASDAQ:PCTY – Get Free Report) SVP Rachit Lohani sold 658 shares of Paylocity stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total value of $107,142.14. Following the completion of the sale, the senior vice president now directly owns 39,764 shares in the company, valued at approximately $6,474,772.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Paylocity Stock Performance

NASDAQ:PCTY opened at $170.23 on Monday. The firm has a market cap of $9.46 billion, a P/E ratio of 49.49, a P/E/G ratio of 4.05 and a beta of 0.95. The firm has a 50-day simple moving average of $157.87 and a 200-day simple moving average of $154.48. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $206.28.

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

Hedge Funds Weigh In On Paylocity

A number of large investors have recently added to or reduced their stakes in PCTY. Rothschild Investment LLC bought a new position in shares of Paylocity during the 2nd quarter worth approximately $40,000. J.Safra Asset Management Corp lifted its holdings in shares of Paylocity by 80.0% during the 1st quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock valued at $42,000 after purchasing an additional 108 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Paylocity by 34.7% in the 1st quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock worth $52,000 after purchasing an additional 78 shares in the last quarter. RiverPark Advisors LLC grew its stake in Paylocity by 152.0% during the 1st quarter. RiverPark Advisors LLC now owns 383 shares of the software maker’s stock worth $66,000 after buying an additional 231 shares during the last quarter. Finally, Versant Capital Management Inc acquired a new position in Paylocity during the 2nd quarter valued at about $66,000. 94.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PCTY has been the subject of a number of recent research reports. Jefferies Financial Group dropped their price objective on shares of Paylocity from $180.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Piper Sandler lowered their price objective on Paylocity from $194.00 to $172.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. TD Cowen cut their target price on Paylocity from $180.00 to $153.00 and set a “buy” rating on the stock in a research report on Thursday, June 20th. Citigroup lowered their price target on Paylocity from $178.00 to $155.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Finally, JMP Securities reiterated a “market outperform” rating and set a $250.00 price objective on shares of Paylocity in a research report on Monday, August 5th. 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 presently has a consensus rating of “Moderate Buy” and an average price target of $179.87.

View Our Latest Analysis on PCTY

Paylocity Company Profile

(Get Free Report)

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.

See Also