Paylocity (NASDAQ:PCTY) Director Steven Sarowitz Sells 400 Shares of Company Stock

Paylocity Holding Corporation (NASDAQ:PCTY) Director Steven Sarowitz sold 400 shares of the company’s stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $180.04, for a total value of $72,016.00. Following the completion of the sale, the director directly owned 4,340,695 shares of the company’s stock, valued at $781,498,727.80. The trade was a 0.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Stock Down 0.4%

Shares of PCTY stock traded down $0.70 during trading hours on Friday, reaching $178.22. The company had a trading volume of 533,578 shares, compared to its average volume of 775,249. The company has a market capitalization of $9.26 billion, a P/E ratio of 34.54, a price-to-earnings-growth ratio of 2.05 and a beta of 0.43. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.09 and a current ratio of 1.04. Paylocity Holding Corporation has a twelve month low of $92.99 and a twelve month high of $181.57. The stock’s fifty day simple moving average is $157.85 and its 200 day simple moving average is $128.12.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, November 5th. The software maker reported $2.09 EPS for the quarter, topping the consensus estimate of $1.93 by $0.16. The firm had revenue of $451.67 million for the quarter, compared to analyst estimates of $443.12 million. Paylocity had a return on equity of 27.59% and a net margin of 15.40%. Paylocity’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.75 EPS. As a group, sell-side analysts expect that Paylocity Holding Corporation will post 6.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Paylocity in the second quarter worth $430,315,000. Jupiter Topco LLC acquired a new stake in shares of Paylocity during the second quarter worth $70,540,000. Amundi raised its holdings in shares of Paylocity by 9.5% during the second quarter. Amundi now owns 663,449 shares of the software maker’s stock worth $69,350,000 after purchasing an additional 57,291 shares during the period. Van Berkom & Associates Inc. lifted its position in shares of Paylocity by 17.8% in the 1st quarter. Van Berkom & Associates Inc. now owns 616,407 shares of the software maker’s stock worth $66,597,000 after buying an additional 93,065 shares during the last quarter. Finally, GW&K Investment Management LLC lifted its position in shares of Paylocity by 16.6% in the 3rd quarter. GW&K Investment Management LLC now owns 386,143 shares of the software maker’s stock worth $55,053,000 after buying an additional 55,005 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PCTY shares. TD Cowen lifted their target price on Paylocity from $168.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Guggenheim increased their target price on Paylocity from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. UBS Group set a $175.00 price target on shares of Paylocity in a research note on Tuesday, September 29th. Citizens Jmp upped their price target on shares of Paylocity from $180.00 to $200.00 and gave the company a “market outperform” rating in a report on Friday, November 6th. Finally, Wall Street Zen upgraded shares of Paylocity from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $177.82.

Paylocity Company Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software to businesses in the United States. Its platform brings together tools that help employers manage payroll, human resources, benefits, and workforce operations. Products and services include payroll processing, benefits administration, time and labor management, talent acquisition and development, employee communications, and expense management. The platform is designed to help organizations streamline administrative work and support employees and managers through a unified system.