Paylocity (NASDAQ:PCTY) Director Sells $1,736,585.70 in Stock

Paylocity Holding Corporation (NASDAQ:PCTY) Director Steven Sarowitz sold 10,445 shares of the company’s stock in a transaction on Monday, October 19th. The shares were sold at an average price of $166.26, for a total value of $1,736,585.70. Following the completion of the transaction, the director owned 4,414,756 shares of the company’s stock, valued at $733,997,332.56. The trade was a 0.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Stock Down 0.3%

Shares of NASDAQ:PCTY opened at $177.19 on Friday. The company has a market capitalization of $9.40 billion, a PE ratio of 35.80, a P/E/G ratio of 2.11 and a beta of 0.50. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09. The company’s fifty day moving average is $152.14 and its 200-day moving average is $128.11. Paylocity Holding Corporation has a 52 week low of $92.99 and a 52 week high of $178.24.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.22. The firm 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 company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.56 earnings per share. Equities research analysts predict that Paylocity Holding Corporation will post 6.92 earnings per share for the current fiscal year.

Key Paylocity News

Here are the key news stories impacting Paylocity this week:

• Positive Sentiment: Paylocity launched its AI-powered Recruiting Optimizer, part of its Ignite AI platform. The company says the tool can improve recruiter productivity by 35%, accelerate hiring by 25% and reduce candidate drop-off by 15%, strengthening its competitive position in cloud-based human capital management software. Paylocity launches AI-powered Recruiting Optimizer
• Positive Sentiment: Citizens JMP raised its price target on PCTY from $150 to $180 while maintaining a “market outperform” rating, indicating confidence in further gains. Citizens JMP raises Paylocity price target
• Positive Sentiment: Zacks highlighted Paylocity’s history of exceeding earnings estimates and said the company currently has the key conditions needed for a potential beat in its next quarterly report. Zacks analysis of Paylocity earnings expectations
• Positive Sentiment: Paylocity’s latest quarterly results beat consensus, with earnings of $1.84 per share versus $1.62 expected and revenue of $444.73 million versus $431.46 million expected. Revenue increased 11% year over year, supporting the company’s growth narrative.
• Neutral Sentiment: Institutional ownership remains high at roughly 94.8%, while several investment firms initiated or expanded positions during the third quarter. The individual trades were relatively small but suggest continued institutional interest.
• Negative Sentiment: Director Steven Sarowitz sold 10,617 shares for approximately $1.80 million on October 20 and 5,744 shares for about $978,000 on October 21, following an earlier sale of 10,445 shares. The transactions were executed under pre-arranged Rule 10b5-1 plans, and Sarowitz still owns more than 4.39 million shares, making the sales a modest reduction in his stake; nevertheless, repeated insider selling can create some pressure while PCTY trades near its 52-week high. Paylocity director stock sale

Hedge Funds Weigh In On Paylocity

Hedge funds have recently made changes to their positions in the business. Signaturefd LLC grew its holdings in shares of Paylocity by 7.2% in the 3rd quarter. Signaturefd LLC now owns 3,520 shares of the software maker’s stock valued at $502,000 after acquiring an additional 237 shares in the last quarter. Citizens Financial Group Inc. RI grew its stake in Paylocity by 10.8% in the third quarter. Citizens Financial Group Inc. RI now owns 3,373 shares of the software maker’s stock valued at $481,000 after purchasing an additional 329 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in shares of Paylocity during the 3rd quarter worth approximately $281,000. MBL Wealth LLC acquired a new stake in shares of Paylocity in the 3rd quarter valued at approximately $287,000. Finally, Root Financial Partners LLC acquired a new position in Paylocity during the third quarter worth $96,000. 94.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PCTY has been the topic of several analyst reports. Weiss Ratings raised Paylocity from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. Citigroup reiterated a “market outperform” rating on shares of Paylocity in a report on Tuesday. BTIG Research boosted their price target on shares of Paylocity from $150.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Cantor Fitzgerald lifted their target price on Paylocity from $140.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Finally, Citizens Jmp increased their price target on Paylocity from $150.00 to $180.00 and gave the stock a “market outperform” rating in a report on Tuesday. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $166.71.

About Paylocity

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.