Paylocity (NASDAQ:PCTY) CFO Ryan Glenn Sells 3,345 Shares of Stock

Paylocity Holding Corporation (NASDAQ:PCTY) CFO Ryan Glenn sold 3,345 shares of the 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 sale, the chief financial officer owned 122,563 shares of the company’s stock, valued at approximately $18,353,809.25. This represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Trading Up 2.0%

NASDAQ:PCTY traded up $3.05 during trading hours on Thursday, hitting $152.36. The company had a trading volume of 403,122 shares, compared to its average volume of 818,443. The stock has a 50-day moving average price of $124.37 and a 200 day moving average price of $114.86. The company has a market capitalization of $8.08 billion, a PE ratio of 30.78 and a beta of 0.48. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.09. Paylocity Holding Corporation has a 52 week low of $92.99 and a 52 week high of $182.83.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.22. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The company had revenue of $444.73 million during the quarter, compared to the consensus estimate of $431.46 million. During the same period in the prior year, the firm earned $1.56 earnings per share. Paylocity’s revenue was up 11.0% on a year-over-year basis. On average, equities research analysts predict that Paylocity Holding Corporation will post 6.86 EPS for the current fiscal year.

Institutional Trading of Paylocity

Several institutional investors have recently added to or reduced their stakes in PCTY. Optiver Holding B.V. boosted its holdings in shares of Paylocity by 5,925.0% during the 1st quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock valued at $26,000 after acquiring an additional 237 shares during the last quarter. Global Retirement Partners LLC bought a new stake in Paylocity during the second quarter valued at about $27,000. Basecamp Wealth Advisors LLC grew its stake in shares of Paylocity by 4,250.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock valued at $28,000 after acquiring an additional 255 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Paylocity in the 4th quarter worth approximately $30,000. Finally, Elevation Wealth Partners LLC increased its holdings in Paylocity by 500.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker’s stock worth $36,000 after acquiring an additional 285 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PCTY. Truist Financial reduced their target price on shares of Paylocity from $180.00 to $165.00 and set a “buy” rating on the stock in a research report on Monday, June 29th. Stephens dropped their price objective on shares of Paylocity from $160.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. Weiss Ratings upgraded shares of Paylocity from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. UBS Group raised their target price on shares of Paylocity from $122.00 to $128.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Finally, Robert W. Baird set a $201.00 price target on Paylocity in a research report on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $160.53.

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.