Paylocity (NASDAQ:PCTY) Director Sells 300 Shares of Company Stock

Paylocity Holding Corporation (NASDAQ:PCTY) Director Steven Sarowitz sold 300 shares of the company’s stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $180.14, for a total value of $54,042.00. Following the completion of the transaction, the director directly owned 4,341,095 shares in the company, valued at approximately $782,004,853.30. The trade was a 0.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Stock Performance

PCTY traded down $1.12 during trading on Thursday, reaching $178.92. 513,575 shares of the company’s stock were exchanged, compared to its average volume of 776,358. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.04 and a quick ratio of 1.09. The company’s fifty day simple moving average is $157.36 and its 200-day simple moving average is $127.96. Paylocity Holding Corporation has a 1 year low of $92.99 and a 1 year high of $181.57. The stock has a market capitalization of $9.30 billion, a P/E ratio of 34.67, a price-to-earnings-growth ratio of 2.04 and a beta of 0.43.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, November 5th. The software maker reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.16. Paylocity had a return on equity of 27.59% and a net margin of 15.40%. The business had revenue of $451.67 million during the quarter, compared to analysts’ expectations of $443.12 million. During the same quarter in the previous year, the firm posted $1.75 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, research analysts predict that Paylocity Holding Corporation will post 6.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the company. KeyCorp raised their price objective on Paylocity from $178.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. BTIG Research increased their price objective on Paylocity from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 6th. Cantor Fitzgerald raised their price target on shares of Paylocity from $165.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Robert W. Baird set a $201.00 price objective on Paylocity in a research note on Wednesday, August 5th. Finally, BMO Capital Markets boosted their target price on shares of Paylocity from $143.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Paylocity has a consensus rating of “Moderate Buy” and an average price target of $177.82.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PCTY. BlackRock Inc. acquired a new position in shares of Paylocity in the second quarter worth $430,315,000. Jupiter Topco LLC purchased a new position in shares of Paylocity in the 2nd quarter valued at about $70,540,000. Amundi increased its stake in Paylocity by 9.5% in the second quarter. Amundi now owns 663,449 shares of the software maker’s stock valued at $69,350,000 after purchasing an additional 57,291 shares during the last quarter. Van Berkom & Associates Inc. raised its stake in Paylocity by 17.8% during the 1st quarter. Van Berkom & Associates Inc. now owns 616,407 shares of the software maker’s stock worth $66,597,000 after acquiring an additional 93,065 shares in the last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of Paylocity during the second quarter worth about $54,906,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Company Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software to businesses in the United States. Its platform brings together tools that help employers manage payroll, human resources, benefits, and workforce operations. Products and services include payroll processing, benefits administration, time and labor management, talent acquisition and development, employee communications, and expense management. The platform is designed to help organizations streamline administrative work and support employees and managers through a unified system.