Insider Selling: Paylocity (NASDAQ:PCTY) Director Sells 8,900 Shares of Stock

Paylocity Holding Corporation (NASDAQ:PCTY) Director Steven Sarowitz sold 8,900 shares of the firm’s stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $171.31, for a total value of $1,524,659.00. Following the completion of the sale, the director directly owned 4,354,869 shares of the company’s stock, valued at approximately $746,032,608.39. This trade represents a 0.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Stock Down 0.9%

Shares of PCTY stock traded down $1.57 on Wednesday, reaching $168.50. 524,001 shares of the company’s stock traded hands, compared to its average volume of 769,697. Paylocity Holding Corporation has a 12-month low of $92.99 and a 12-month high of $178.53. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $8.79 billion, a P/E ratio of 34.04, a price-to-earnings-growth ratio of 2.10 and a beta of 0.50. The business’s 50 day moving average price is $153.12 and its two-hundred day moving average price is $126.40.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data 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. Paylocity had a return on equity of 27.02% and a net margin of 15.23%. The firm had revenue of $444.73 million during the quarter, compared to the consensus estimate of $431.46 million. During the same period in the prior year, the business earned $1.56 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities analysts forecast that Paylocity Holding Corporation will post 6.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PCTY has been the subject of several research reports. Wall Street Zen cut shares of Paylocity from a “buy” rating to a “hold” rating in a report on Saturday. Cantor Fitzgerald upped their price objective on shares of Paylocity from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. KeyCorp lifted their price objective on Paylocity from $178.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday. Barclays boosted their target price on Paylocity from $154.00 to $162.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 13th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $165.00 price target on shares of Paylocity in a research note on Wednesday, August 5th. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Paylocity has an average rating of “Moderate Buy” and an average target price of $172.82.

Institutional Trading of Paylocity

Several large investors have recently added to or reduced their stakes in the business. Optiver Holding B.V. raised 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 in the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Paylocity in the 2nd quarter valued at $27,000. Basecamp Wealth Advisors LLC lifted its stake in shares of Paylocity by 4,250.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock valued at $28,000 after purchasing an additional 255 shares during the last quarter. Elevation Wealth Partners LLC boosted its holdings in Paylocity by 500.0% in the second quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker’s stock worth $36,000 after purchasing an additional 285 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Paylocity by 58.8% in the first quarter. Parallel Advisors LLC now owns 451 shares of the software maker’s stock worth $49,000 after purchasing an additional 167 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Paylocity Company Profile

Paylocity Holding Corporation (NASDAQ:PCTY) provides cloud-based human capital management (HCM) and payroll software for organizations. Its platform is designed to help employers manage payroll, human resources, employee benefits, talent acquisition, onboarding, performance, learning, and workforce administration through an integrated system.

The company also offers tools for time and labor management, scheduling, employee communications, engagement, surveys, expense management, and other workplace activities.