Insider Selling: Paylocity (NASDAQ:PCTY) Director Sells $493,136.00 in Stock

Paylocity Holding Corporation (NASDAQ:PCTY) Director Craig Conway sold 3,145 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $156.80, for a total value of $493,136.00. Following the sale, the director directly owned 2,207 shares in the company, valued at approximately $346,057.60. This trade represents a 58.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Paylocity Price Performance

Shares of NASDAQ PCTY traded up $2.29 during mid-day trading on Monday, reaching $160.22. The company had a trading volume of 1,039,443 shares, compared to its average volume of 803,371. The firm has a market cap of $8.50 billion, a price-to-earnings ratio of 32.37 and a beta of 0.47. The business’s 50-day simple moving average is $131.32 and its 200 day simple moving average is $116.25. Paylocity Holding Corporation has a one year low of $92.99 and a one year high of $180.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.22. The business had revenue of $444.73 million during the quarter, compared to analysts’ expectations of $431.46 million. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. Paylocity’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.56 earnings per share. On average, research analysts predict that Paylocity Holding Corporation will post 6.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Paylocity

A number of hedge funds have recently made changes to their positions in PCTY. Optiver Holding B.V. grew its holdings in shares of Paylocity by 5,925.0% during the 1st quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock valued at $26,000 after purchasing an additional 237 shares during the last quarter. Global Retirement Partners LLC bought a new position in Paylocity in the 2nd quarter valued at approximately $27,000. Basecamp Wealth Advisors LLC boosted its position 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 buying an additional 255 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Paylocity in the fourth quarter valued at approximately $30,000. Finally, Elevation Wealth Partners LLC boosted its position in Paylocity by 500.0% in the second quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker’s stock valued at $36,000 after buying an additional 285 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PCTY shares. Citizens Jmp reduced their price target on shares of Paylocity from $170.00 to $150.00 and set a “market outperform” rating on the stock in a research report on Friday, May 8th. Cantor Fitzgerald boosted their price objective on shares of Paylocity from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Zacks Research cut Paylocity from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Robert W. Baird set a $201.00 target price on Paylocity in a report on Wednesday, August 5th. Finally, Wall Street Zen lowered Paylocity from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Twelve equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock 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.