Paylocity Holding Corporation (NASDAQ:PCTY – Get Free Report) Director Steven Sarowitz sold 10,617 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $169.76, for a total value of $1,802,341.92. Following the sale, the director owned 4,404,139 shares of the company’s stock, valued at approximately $747,646,636.64. This represents a 0.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Paylocity Price Performance
Paylocity stock opened at $177.67 on Friday. Paylocity Holding Corporation has a 12 month low of $92.99 and a 12 month high of $178.13. The stock’s 50 day moving average is $151.56 and its 200-day moving average is $127.76. 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 company has a market capitalization of $9.43 billion, a price-to-earnings ratio of 29.66, a PEG ratio of 2.01 and a beta of 0.50.
Paylocity (NASDAQ:PCTY – Get Free Report) last announced its earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.22. The company had revenue of $444.73 million for the quarter, compared to analyst estimates of $431.46 million. Paylocity had a return on equity of 27.02% and a net margin of 15.23%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.56 earnings per share. Equities research analysts expect that Paylocity Holding Corporation will post 6.92 EPS for the current year.
More Paylocity News
Here are the key news stories impacting Paylocity this week:
- Positive Sentiment: Paylocity launched its AI-powered Recruiting Optimizer, part of its Ignite AI platform. The tool is designed to improve recruiter productivity by 35%, accelerate hiring by 25% and reduce candidate drop-off by 15%, supporting the company’s effort to differentiate its cloud-based human capital management software. Paylocity launches AI-powered Recruiting Optimizer
- Positive Sentiment: Citizens JMP raised its price target for PCTY from $150 to $180 while maintaining a “market outperform” rating, signaling confidence in additional upside. Citizens JMP raises Paylocity price target
- Positive Sentiment: Paylocity’s latest quarterly results exceeded expectations, with earnings of $1.84 per share versus the $1.62 consensus estimate and revenue of $444.73 million versus $431.46 million expected. Revenue grew 11% year over year, reinforcing the company’s growth and profitability profile.
- Neutral Sentiment: Director Steven Sarowitz sold 10,617 shares for approximately $1.80 million on October 20, following a sale of 10,445 shares worth about $1.74 million on October 19. Both trades were executed under a Rule 10b5-1 plan; Sarowitz still owns more than 4.4 million shares, so the sales reduced his position only modestly. Paylocity director stock sale filing
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of PCTY. Versant Capital Management Inc raised its stake in Paylocity by 1.8% in the third quarter. Versant Capital Management Inc now owns 4,639 shares of the software maker’s stock valued at $661,000 after purchasing an additional 82 shares in the last quarter. State of Michigan Retirement System grew its stake in Paylocity by 1.0% during the first quarter. State of Michigan Retirement System now owns 10,472 shares of the software maker’s stock worth $1,131,000 after buying an additional 100 shares in the last quarter. State of Wyoming grew its stake in Paylocity by 16.0% during the first quarter. State of Wyoming now owns 861 shares of the software maker’s stock worth $93,000 after buying an additional 119 shares in the last quarter. Hsbc Holdings PLC grew its stake in Paylocity by 0.4% during the fourth quarter. Hsbc Holdings PLC now owns 29,653 shares of the software maker’s stock worth $4,535,000 after buying an additional 128 shares in the last quarter. Finally, Elevation Wealth Partners LLC increased its holdings in Paylocity by 37.7% in the 3rd quarter. Elevation Wealth Partners LLC now owns 471 shares of the software maker’s stock valued at $67,000 after buying an additional 129 shares during the period. Institutional investors own 94.76% of the company’s stock.
Analysts Set New Price Targets
PCTY has been the subject of a number of research reports. Citigroup reissued a “market outperform” rating on shares of Paylocity in a report on Tuesday. KeyCorp upped their price target on shares of Paylocity from $172.00 to $178.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. BTIG Research upped their price target on shares of Paylocity from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Barclays raised their price target on shares of Paylocity from $154.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 13th. Finally, Zacks Research cut shares of Paylocity from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Paylocity has a consensus rating of “Moderate Buy” and a consensus target price of $165.53.
Read Our Latest Analysis on PCTY
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.
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