Insider Selling: Paylocity (NASDAQ:PCTY) Director Sells 441 Shares of Stock

Paylocity Holding Corporation (NASDAQ:PCTY) Director Steven Sarowitz sold 441 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $155.00, for a total value of $68,355.00. Following the sale, the director owned 4,472,954 shares of the company’s stock, valued at $693,307,870. This trade represents a 0.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Stock Performance

NASDAQ:PCTY traded down $0.20 during midday trading on Wednesday, reaching $152.04. The stock had a trading volume of 335,474 shares, compared to its average volume of 808,958. The firm has a fifty day simple moving average of $128.01 and a two-hundred day simple moving average of $115.47. Paylocity Holding Corporation has a 12-month low of $92.99 and a 12-month high of $181.97. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07. The stock has a market cap of $8.07 billion, a P/E ratio of 30.72 and a beta of 0.47.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PCTY. Weiss Ratings raised shares of Paylocity from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. UBS Group boosted their target price on Paylocity from $122.00 to $128.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Barclays increased their target price on Paylocity from $128.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 5th. Truist Financial reduced their price target on Paylocity from $180.00 to $165.00 and set a “buy” rating for the company in a report on Monday, June 29th. Finally, Cantor Fitzgerald lifted their price target on Paylocity from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.53.

Institutional Investors Weigh In On Paylocity

Several institutional investors and hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management LLC purchased a new stake in shares of Paylocity in the fourth quarter valued at about $30,000. Advisory Services Network LLC purchased a new stake in shares of Paylocity in the third quarter valued at $38,000. Optiver Holding B.V. grew its holdings in Paylocity by 5,925.0% in the 1st quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock valued at $26,000 after buying an additional 237 shares during the period. Global Retirement Partners LLC acquired a new position in Paylocity during the second quarter worth approximately $27,000. Finally, Basecamp Wealth Advisors LLC increased its holdings in shares of Paylocity by 4,250.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock worth $28,000 after buying an additional 255 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

About Paylocity

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.