Insider Selling: Paylocity (NASDAQ:PCTY) SVP Sells $708,648.60 in Stock

Paylocity Holding Corporation (NASDAQ:PCTY) SVP Joshua Scutt sold 4,730 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $149.82, for a total transaction of $708,648.60. Following the completion of the transaction, the senior vice president directly owned 75,729 shares in the company, valued at approximately $11,345,718.78. This represents a 5.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $153.34 on Friday. The firm has a 50 day moving average of $126.14 and a 200-day moving average of $115.25. Paylocity Holding Corporation has a 12 month low of $92.99 and a 12 month high of $182.83. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $8.14 billion, a PE ratio of 30.98 and a beta of 0.48.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.22. The business had revenue of $444.73 million for the quarter, compared to analyst estimates of $431.46 million. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the business posted $1.56 EPS. On average, equities research analysts predict that Paylocity Holding Corporation will post 6.86 EPS for the current fiscal year.

Key Paylocity News

Here are the key news stories impacting Paylocity this week:

• Positive Sentiment: TD Cowen raised its price target for Paylocity from $168 to $177 and maintained a “buy” rating, indicating potential upside from the referenced share price. The move signals continued confidence in Paylocity’s growth outlook. Benzinga analyst price-target report
• Positive Sentiment: Paylocity’s 50-day moving average recently moved above its 200-day average, forming a bullish “golden cross.” This technical signal could attract momentum-focused investors and reinforce the stock’s ongoing uptrend. Zacks golden cross analysis
• Positive Sentiment: Recent coverage highlighted the extension of Paylocity’s uptrend after a strong quarterly report. The company reported adjusted earnings of $1.84 per share versus the $1.62 consensus estimate and revenue of $444.7 million versus expectations of $431.5 million, with revenue up 11% year over year. Kalkine Media Paylocity uptrend report
• Neutral Sentiment: CFO Ryan Glenn, SVPs Andrew Cappotelli and Joshua Scutt, and Director Steven I. Sarowitz sold a combined 19,164 shares worth approximately $2.87 million. Because the transactions were executed under pre-arranged Rule 10b5-1 plans, they are a limited signal of near-term pessimism. Sarowitz still owns more than 4.48 million shares, and the other executives retain substantial positions. SEC insider transaction filing

Institutional Investors Weigh In On Paylocity

A number of institutional investors have recently made changes to their positions in the stock. Optiver Holding B.V. raised its position in shares of Paylocity by 5,925.0% during the first quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock worth $26,000 after acquiring an additional 237 shares during the last quarter. Global Retirement Partners LLC bought a new stake in Paylocity in the second quarter valued at approximately $27,000. Basecamp Wealth Advisors LLC boosted its holdings in Paylocity by 4,250.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock valued at $28,000 after acquiring an additional 255 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Paylocity during the 4th quarter valued at approximately $30,000. Finally, Elevation Wealth Partners LLC increased its position in Paylocity by 500.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker’s stock valued at $36,000 after purchasing an additional 285 shares during the period. Institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

PCTY has been the topic of a number of research analyst reports. Barclays raised their target price on Paylocity from $128.00 to $154.00 and gave the company an “equal weight” rating in a report on Wednesday, August 5th. BMO Capital Markets upped their price objective on Paylocity from $143.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Cantor Fitzgerald raised their price objective on Paylocity from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. BTIG Research lifted their target price on Paylocity from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Zacks Research cut Paylocity from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $160.53.

Paylocity Company Profile

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.