Paylocity Holding Corporation (NASDAQ:PCTY – Get Free Report) Director Steven Sarowitz sold 13,700 shares of Paylocity stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $176.05, for a total transaction of $2,411,885.00. Following the transaction, the director owned 4,363,769 shares of the company’s stock, valued at $768,241,532.45. This represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 Stock Down 3.6%
Shares of PCTY traded down $6.39 on Tuesday, reaching $170.07. The company’s stock had a trading volume of 784,284 shares, compared to its average volume of 769,520. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a twelve month low of $92.99 and a twelve month high of $178.53. The stock has a market capitalization of $8.87 billion, a PE ratio of 34.36, a PEG ratio of 2.10 and a beta of 0.50. The firm has a fifty day moving average of $152.62 and a 200-day moving average of $126.31.
Paylocity (NASDAQ:PCTY – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.22. The business had revenue of $444.73 million for 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%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.56 EPS. Equities analysts predict that Paylocity Holding Corporation will post 6.92 EPS for the current year.
Hedge Funds Weigh In On Paylocity
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Optiver Holding B.V. raised its position in Paylocity by 5,925.0% in the first quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock worth $26,000 after acquiring an additional 237 shares during the period. Global Retirement Partners LLC bought a new position in Paylocity during the second quarter valued at $27,000. Basecamp Wealth Advisors LLC raised its stake in shares of 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 during the period. Elevation Wealth Partners LLC raised its stake in shares of 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 during the period. Finally, Parallel Advisors LLC raised its stake in shares of Paylocity by 58.8% in the first quarter. Parallel Advisors LLC now owns 451 shares of the software maker’s stock valued at $49,000 after buying an additional 167 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.
More Paylocity News
Here are the key news stories impacting Paylocity this week:
- Positive Sentiment: BTIG Research raised its price target for Paylocity from $180 to $200 and reiterated a “buy” rating, implying meaningful upside from the referenced share price. The firm’s view provides support for the stock by pointing to continued growth potential. BTIG Research raises Paylocity price target
- Neutral Sentiment: Analyst sentiment remains mixed. Paylocity has a “Moderate Buy” consensus rating, but the average price target of $167.88 is below the referenced trading level. Twelve analysts rate the stock a Buy, while five rate it a Hold.
- Neutral Sentiment: Reported short interest was listed at zero shares, producing a zero-day days-to-cover ratio. This suggests no measurable short-selling pressure in the cited data, although the report’s description of a “significant increase” conflicts with the zero-share figure.
- Negative Sentiment: Seeking Alpha downgraded Paylocity in a first-quarter preview, arguing that the company needs more aggressive monetization. The report may have heightened concerns about revenue growth, pricing power and whether the stock’s valuation fully reflects its earnings prospects. Paylocity Q1 preview downgrade
- Negative Sentiment: Director Steven Sarowitz sold a combined 20,926 shares for approximately $3.7 million across transactions dated October 22 and 23. The sales were conducted under a pre-arranged Rule 10b5-1 plan and reduced his position by less than 0.5%, limiting their significance but still adding modest insider-selling pressure. Paylocity director insider sale
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on PCTY shares. BMO Capital Markets increased their price target on Paylocity from $143.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of Paylocity from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. UBS Group set a $175.00 target price on shares of Paylocity in a research note on Tuesday, September 29th. Cantor Fitzgerald increased their target price on shares of Paylocity from $140.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Finally, Guggenheim raised their price target on shares of Paylocity from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Friday. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $172.12.
View 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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