Paylocity Holding Corporation (NASDAQ:PCTY – Get Free Report) Director Steven Sarowitz sold 8,080 shares of the stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $176.57, for a total value of $1,426,685.60. Following the sale, the director owned 4,390,315 shares of the company’s stock, valued at approximately $775,197,919.55. The trade was a 0.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Paylocity Stock Performance
PCTY opened at $168.50 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average price is $153.54 and its two-hundred day moving average price is $126.47. The firm 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. Paylocity Holding Corporation has a 12-month low of $92.99 and a 12-month high of $178.53.
Paylocity (NASDAQ:PCTY – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The software maker reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.22. Paylocity had a return on equity of 27.02% and a net margin of 15.23%. The company had revenue of $444.73 million during the quarter, compared to analyst estimates of $431.46 million. During the same period in the previous year, the company earned $1.56 earnings per share. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities analysts forecast that Paylocity Holding Corporation will post 6.92 earnings per share for the current year.
Institutional Trading of Paylocity
Several institutional investors have recently modified their holdings of the company. MGO One Seven LLC acquired a new position in shares of Paylocity in the third quarter valued at $259,000. Choreo LLC lifted its position in Paylocity by 31.6% in the third quarter. Choreo LLC now owns 3,849 shares of the software maker’s stock worth $549,000 after purchasing an additional 924 shares during the period. Childress Capital Advisors LLC bought a new position in Paylocity in the third quarter worth $222,000. SYM FINANCIAL Corp bought a new position in Paylocity in the third quarter worth $247,000. Finally, Park Avenue Securities LLC boosted its stake in Paylocity by 31.6% during the third quarter. Park Avenue Securities LLC now owns 2,695 shares of the software maker’s stock worth $384,000 after buying an additional 647 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.
Key Headlines Impacting Paylocity
Here are the key news stories impacting Paylocity this week:
- Positive Sentiment: KeyCorp raised its price target on Paylocity from $178 to $190 and maintained an “overweight” rating, implying approximately 13% upside from the referenced share price. The move reinforces expectations for further appreciation. KeyCorp analyst rating
- Positive Sentiment: BTIG Research reportedly raised its Paylocity price target from $180 to $200 while keeping a “buy” rating. The higher target reflects continued confidence in the company’s growth outlook. BTIG Research analyst rating
- Neutral Sentiment: Paylocity’s latest reported quarter showed stronger-than-expected results, with earnings per share of $1.84 versus a $1.62 consensus estimate and revenue up 11% year over year. Analysts expect approximately $6.92 in full-year EPS, providing a supportive fundamental backdrop.
- Negative Sentiment: Director Steven Sarowitz sold 8,900 shares for approximately $1.5 million on October 27, following sales of 13,700 shares on October 26 and 8,080 shares on October 22. The disclosed transactions totaled about $5.4 million and were executed under a pre-arranged Rule 10b5-1 plan. The sales reduced his holdings by less than 1%, but the repeated insider selling could weigh on sentiment. SEC insider transaction filing
- Negative Sentiment: A Seeking Alpha analysis downgraded Paylocity, arguing that the company needs more aggressive monetization. The report raises concerns that growth and revenue expansion may not fully justify the stock’s valuation. Paylocity Q1 preview and downgrade
Analysts Set New Price Targets
PCTY has been the subject of several research analyst reports. Robert W. Baird set a $201.00 target price on shares of Paylocity 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. Guggenheim boosted their price objective on shares of Paylocity from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Zacks Research lowered shares of Paylocity from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $165.00 price objective on shares of Paylocity in a research report on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Paylocity has an average rating of “Moderate Buy” and an average target price of $172.82.
Read Our Latest Stock Report 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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