Paylocity (NASDAQ:PCTY) Director Sells 8,080 Shares of Company Stock

Paylocity Holding Corporation (NASDAQ:PCTY) Director Steven Sarowitz sold 8,080 shares of Paylocity stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $176.57, for a total transaction of $1,426,685.60. Following the completion of the sale, the director owned 4,390,315 shares in the company, valued at approximately $775,197,919.55. This trade represents a 0.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Price Performance

Shares of PCTY stock traded down $0.73 on Monday, reaching $176.46. 592,329 shares of the company were exchanged, compared to its average volume of 770,822. Paylocity Holding Corporation has a 1 year low of $92.99 and a 1 year high of $178.53. 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 business has a 50-day moving average price of $152.14 and a 200 day moving average price of $128.26. The company has a market cap of $9.21 billion, a price-to-earnings ratio of 35.65, a P/E/G ratio of 2.10 and a beta of 0.50.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share for the quarter, beating 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 firm had revenue of $444.73 million for the quarter, compared to analyst estimates of $431.46 million. During the same period last year, the company posted $1.56 EPS. Paylocity’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities research analysts forecast that Paylocity Holding Corporation will post 6.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PCTY. BlackRock Inc. acquired a new position in Paylocity in the second quarter valued at about $430,315,000. Jupiter Topco LLC acquired a new position in shares of Paylocity in the 2nd quarter worth approximately $70,540,000. Deutsche Bank AG purchased a new position in shares of Paylocity during the 2nd quarter worth approximately $54,906,000. Bank of America Corp DE purchased a new stake in Paylocity in the second quarter valued at approximately $54,867,000. Finally, Amundi lifted its stake in Paylocity by 143.3% during the first quarter. Amundi now owns 606,158 shares of the software maker’s stock worth $65,489,000 after purchasing an additional 357,001 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on PCTY shares. Cantor Fitzgerald increased their price objective on Paylocity from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Robert W. Baird set a $201.00 price objective on shares of Paylocity in a research note on Wednesday, August 5th. Guggenheim increased their price objective on shares of Paylocity from $180.00 to $200.00 and gave the company a “buy” rating in a report on Friday. TD Cowen boosted their target price on Paylocity from $168.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Finally, Barclays upped their price target on Paylocity from $154.00 to $162.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 13th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Paylocity currently has a consensus rating of “Moderate Buy” and an average target price of $167.88.

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.