Paylocity Holding Corporation (NASDAQ:PCTY – Get Free Report) CFO Ryan Glenn sold 3,345 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $149.75, for a total transaction of $500,913.75. Following the completion of the sale, the chief financial officer directly owned 122,563 shares in the company, valued at approximately $18,353,809.25. The trade was a 2.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Paylocity Stock Performance
NASDAQ:PCTY opened at $152.36 on Friday. The firm has a 50 day moving average of $125.25 and a 200-day moving average of $114.98. Paylocity Holding Corporation has a 1 year low of $92.99 and a 1 year high of $182.83. The stock has a market capitalization of $8.08 billion, a P/E ratio of 30.78 and a beta of 0.48. 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 (NASDAQ:PCTY – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.84 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the company posted $1.56 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Paylocity Holding Corporation will post 6.86 EPS for the current fiscal year.
Paylocity News Roundup
- Positive Sentiment: TD Cowen raised its price target for Paylocity from $168 to $177 and maintained a “buy” rating, implying roughly 16% upside from the referenced share price. The upgrade reflects continued confidence in the company’s outlook. Benzinga analyst price-target report
- Positive Sentiment: Paylocity’s 50-day moving average recently crossed above its 200-day moving average, creating a bullish “golden cross” signal. The technical setup may attract momentum-oriented investors, particularly after the stock reached a significant support level. Zacks golden cross analysis
- Positive Sentiment: A recent report said Paylocity’s uptrend extended following a strong earnings print. The company’s latest results also exceeded consensus expectations for both earnings and revenue, supporting the positive investor sentiment. Kalkine Media Paylocity uptrend report
- Neutral Sentiment: Paylocity CFO Ryan Glenn, SVPs Andrew Cappotelli and Joshua Scutt, and Director Steven I. Sarowitz collectively sold approximately 19,164 shares worth about $2.87 million. Each transaction was executed under a pre-arranged Rule 10b5-1 trading plan, reducing its value as a signal of near-term concerns. Sarowitz continues to own more than 4.48 million shares, while the executives retain substantial positions. SEC insider transaction filing
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. KeyCorp upped their target price on shares of Paylocity from $172.00 to $178.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. BTIG Research boosted their target price on Paylocity from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Citigroup reissued a “buy” rating on shares of Paylocity in a research report on Thursday, August 6th. Barclays increased their price objective on Paylocity from $128.00 to $154.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Paylocity from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Paylocity has a consensus rating of “Moderate Buy” and a consensus target price of $160.53.
View Our Latest Stock Analysis on Paylocity
Institutional Trading of Paylocity
Several hedge funds have recently added to or reduced their stakes in the company. State of Michigan Retirement System increased its position in Paylocity by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 10,472 shares of the software maker’s stock valued at $1,131,000 after buying an additional 100 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Paylocity by 3.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,419 shares of the software maker’s stock worth $521,000 after acquiring an additional 106 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Paylocity by 35.0% in the second quarter. Smartleaf Asset Management LLC now owns 428 shares of the software maker’s stock worth $77,000 after acquiring an additional 111 shares during the last quarter. State of Wyoming increased its holdings in shares of Paylocity by 16.0% during the first quarter. State of Wyoming now owns 861 shares of the software maker’s stock valued at $93,000 after acquiring an additional 119 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Paylocity by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 7,382 shares of the software maker’s stock valued at $1,126,000 after acquiring an additional 122 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.
Paylocity Company Profile
Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.
In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.
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