Paylocity Holding Corporation (NASDAQ:PCTY) Short Interest Update

Paylocity Holding Corporation (NASDAQ:PCTY) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totaling 2,065,215 shares, an increase of 26.0% from the December 31st total of 1,639,051 shares. Currently, 4.7% of the company’s stock are short sold. Based on an average trading volume of 573,888 shares, the days-to-cover ratio is currently 3.6 days. Based on an average trading volume of 573,888 shares, the days-to-cover ratio is currently 3.6 days. Currently, 4.7% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several research firms have commented on PCTY. BMO Capital Markets lowered their target price on shares of Paylocity from $200.00 to $185.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Citizens Jmp reduced their price target on Paylocity from $270.00 to $245.00 and set a “market outperform” rating for the company in a research report on Wednesday, November 5th. Jefferies Financial Group dropped their price objective on Paylocity from $225.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings downgraded Paylocity from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 27th. Finally, Zacks Research upgraded Paylocity from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Fifteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $204.05.

Insider Buying and Selling at Paylocity

In related news, CFO Ryan Glenn sold 1,737 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $143.65, for a total value of $249,520.05. Following the sale, the chief financial officer owned 77,229 shares in the company, valued at $11,093,945.85. This represents a 2.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 19.40% of the stock is owned by insiders.

Institutional Trading of Paylocity

A number of hedge funds have recently modified their holdings of PCTY. Flagship Harbor Advisors LLC bought a new position in shares of Paylocity during the fourth quarter valued at $27,000. MassMutual Private Wealth & Trust FSB raised its position in Paylocity by 363.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker’s stock worth $29,000 after buying an additional 149 shares during the last quarter. Advisory Services Network LLC bought a new position in Paylocity during the 3rd quarter valued at about $38,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Paylocity during the 3rd quarter valued at about $41,000. Finally, Allworth Financial LP grew its stake in shares of Paylocity by 88.0% in the third quarter. Allworth Financial LP now owns 282 shares of the software maker’s stock worth $45,000 after acquiring an additional 132 shares during the period. Institutional investors own 94.76% of the company’s stock.

Paylocity Trading Up 0.4%

Shares of PCTY traded up $0.59 during midday trading on Monday, reaching $135.57. The stock had a trading volume of 811,450 shares, compared to its average volume of 593,801. The company has a market capitalization of $7.37 billion, a price-to-earnings ratio of 33.98, a price-to-earnings-growth ratio of 3.97 and a beta of 0.56. The company’s 50-day moving average is $147.29 and its 200 day moving average is $158.54. Paylocity has a 12-month low of $131.07 and a 12-month high of $223.80.

Paylocity (NASDAQ:PCTY) last released its earnings results on Tuesday, November 4th. The software maker reported $1.75 EPS for the quarter, beating the consensus estimate of $1.52 by $0.23. The company had revenue of $408.17 million for the quarter, compared to analyst estimates of $399.53 million. Paylocity had a net margin of 13.75% and a return on equity of 22.07%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.66 EPS. Research analysts forecast that Paylocity will post 4.36 EPS for the current fiscal year.

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.