Paylocity (NASDAQ:PCTY) Director Sells $1,679,420.16 in Stock

Paylocity Holding Corporation (NASDAQ:PCTY) Director Steven Sarowitz sold 11,136 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $150.81, for a total transaction of $1,679,420.16. Following the sale, the director owned 4,535,052 shares of the company’s stock, valued at approximately $683,931,192.12. The trade was a 0.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Stock Performance

Shares of NASDAQ:PCTY traded down $4.77 during mid-day trading on Monday, reaching $145.65. The company had a trading volume of 1,213,503 shares, compared to its average volume of 823,742. 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 firm has a market cap of $7.73 billion, a price-to-earnings ratio of 29.42 and a beta of 0.47. The company’s 50-day moving average price is $119.10 and its 200-day moving average price is $114.53. Paylocity Holding Corporation has a one year low of $92.99 and a one year high of $182.83.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data 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. Paylocity had a return on equity of 27.02% and a net margin of 15.23%.The business had revenue of $444.73 million during the quarter, compared to analyst estimates of $431.46 million. During the same period in the prior year, the company earned $1.56 earnings per share. Paylocity’s revenue was up 11.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Paylocity Holding Corporation will post 6.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Paylocity

Institutional investors have recently made changes to their positions in the stock. Optiver Holding B.V. boosted its holdings in shares of 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. Flagship Harbor Advisors LLC bought a new stake in shares of Paylocity during the 4th quarter valued at $27,000. Global Retirement Partners LLC bought a new stake in shares of Paylocity during the 2nd quarter valued at $27,000. Basecamp Wealth Advisors LLC lifted its holdings in Paylocity by 4,250.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock worth $28,000 after purchasing an additional 255 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in Paylocity during the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PCTY shares. TD Cowen increased their price target on Paylocity from $137.00 to $168.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Robert W. Baird set a $201.00 price objective on Paylocity in a research note on Wednesday, August 5th. BMO Capital Markets boosted their price objective on Paylocity from $143.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Zacks Research downgraded shares of Paylocity from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, Citigroup reiterated a “buy” rating on shares of Paylocity in a research report on Thursday. Twelve research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $160.00.

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.