Paylocity (NASDAQ:PCTY) Director Steven Sarowitz Sells 8,900 Shares of Company Stock

Paylocity Holding Corporation (NASDAQ:PCTY) Director Steven Sarowitz sold 8,900 shares of the stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $171.31, for a total value of $1,524,659.00. Following the transaction, the director owned 4,354,869 shares of the company’s stock, valued at $746,032,608.39. This represents a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Stock Down 0.9%

Shares of NASDAQ PCTY opened at $168.50 on Thursday. Paylocity Holding Corporation has a 52-week low of $92.99 and a 52-week 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 fifty day moving average of $153.54 and a two-hundred day moving average of $126.47. The stock has a market cap of $8.79 billion, a PE ratio of 34.04, a PEG ratio of 2.10 and a beta of 0.50.

Paylocity (NASDAQ:PCTY) last posted its earnings results 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 business had revenue of $444.73 million for the quarter, compared to analyst estimates of $431.46 million. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.56 EPS. As a group, equities research analysts expect that Paylocity Holding Corporation will post 6.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PCTY has been the topic of several research analyst reports. BMO Capital Markets upped their price objective on shares of Paylocity from $143.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. BTIG Research lifted their target price on shares of Paylocity from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Monday. Barclays boosted their target price on Paylocity from $154.00 to $162.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 13th. Weiss Ratings raised Paylocity from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. Finally, Jefferies Financial Group restated a “buy” rating and set a $165.00 price target on shares of Paylocity in a research report on Wednesday, August 5th. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $172.82.

Institutional Trading of Paylocity

Hedge funds and other institutional investors have recently made changes to their positions in the business. Optiver Holding B.V. raised its position in Paylocity by 5,925.0% in the 1st quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock worth $26,000 after purchasing an additional 237 shares during the last quarter. Global Retirement Partners LLC bought a new position in Paylocity in the 2nd quarter valued at $27,000. Basecamp Wealth Advisors LLC boosted its position in Paylocity by 4,250.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock valued at $28,000 after buying an additional 255 shares during the last quarter. Elevation Wealth Partners LLC boosted its position in Paylocity by 500.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker’s stock valued at $36,000 after buying an additional 285 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Paylocity by 58.8% in the 1st quarter. Parallel Advisors LLC now owns 451 shares of the software maker’s stock valued at $49,000 after buying an additional 167 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity News Summary

Here are the key news stories impacting Paylocity this week:

• Positive Sentiment: KeyCorp raised its price target on Paylocity from $178 to $190 and maintained an “overweight” rating, implying approximately 13% upside from the referenced share price. The move reinforces expectations for further appreciation. KeyCorp analyst rating
• Positive Sentiment: BTIG Research reportedly raised its Paylocity price target from $180 to $200 while keeping a “buy” rating. The higher target reflects continued confidence in the company’s growth outlook. BTIG Research analyst rating
• Neutral Sentiment: Paylocity’s latest reported quarter showed stronger-than-expected results, with earnings per share of $1.84 versus a $1.62 consensus estimate and revenue up 11% year over year. Analysts expect approximately $6.92 in full-year EPS, providing a supportive fundamental backdrop.
• Negative Sentiment: Director Steven Sarowitz sold 8,900 shares for approximately $1.5 million on October 27, following sales of 13,700 shares on October 26 and 8,080 shares on October 22. The disclosed transactions totaled about $5.4 million and were executed under a pre-arranged Rule 10b5-1 plan. The sales reduced his holdings by less than 1%, but the repeated insider selling could weigh on sentiment. SEC insider transaction filing
• Negative Sentiment: A Seeking Alpha analysis downgraded Paylocity, arguing that the company needs more aggressive monetization. The report raises concerns that growth and revenue expansion may not fully justify the stock’s valuation. Paylocity Q1 preview and downgrade

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.