Steven Sarowitz Sells 8,539 Shares of Paylocity (NASDAQ:PCTY) Stock

Paylocity Holding Corporation (NASDAQ:PCTY) Director Steven Sarowitz sold 8,539 shares of Paylocity stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $150.20, for a total transaction of $1,282,557.80. Following the sale, the director owned 4,480,055 shares of the company’s stock, valued at approximately $672,904,261. This represents a 0.19% decrease in their ownership of the stock. The sale was disclosed in a legal 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 Price Performance

Paylocity stock opened at $153.34 on Friday. The company’s 50 day simple moving average is $126.14 and its 200-day simple moving average is $115.25. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09. Paylocity Holding Corporation has a 1 year low of $92.99 and a 1 year high of $182.83. The company has a market capitalization of $8.14 billion, a price-to-earnings ratio of 30.98 and a beta of 0.48.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.84 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $431.46 million. During the same quarter last year, the company posted $1.56 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts expect that Paylocity Holding Corporation will post 6.86 earnings per share for the current year.

More Paylocity News

Here are the key news stories impacting Paylocity this week:

• Positive Sentiment: TD Cowen raised its price target for Paylocity from $168 to $177 and maintained a “buy” rating, indicating potential upside from the referenced share price. The move signals continued confidence in Paylocity’s growth outlook. Benzinga analyst price-target report
• Positive Sentiment: Paylocity’s 50-day moving average recently moved above its 200-day average, forming a bullish “golden cross.” This technical signal could attract momentum-focused investors and reinforce the stock’s ongoing uptrend. Zacks golden cross analysis
• Positive Sentiment: Recent coverage highlighted the extension of Paylocity’s uptrend after a strong quarterly report. The company reported adjusted earnings of $1.84 per share versus the $1.62 consensus estimate and revenue of $444.7 million versus expectations of $431.5 million, with revenue up 11% year over year. Kalkine Media Paylocity uptrend report
• Neutral Sentiment: CFO Ryan Glenn, SVPs Andrew Cappotelli and Joshua Scutt, and Director Steven I. Sarowitz sold a combined 19,164 shares worth approximately $2.87 million. Because the transactions were executed under pre-arranged Rule 10b5-1 plans, they are a limited signal of near-term pessimism. Sarowitz still owns more than 4.48 million shares, and the other executives retain substantial positions. SEC insider transaction filing

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PCTY shares. Zacks Research cut Paylocity from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. BTIG Research increased their target price on Paylocity from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. BMO Capital Markets raised their target price on Paylocity from $143.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Citizens Jmp lowered their target price on Paylocity from $170.00 to $150.00 and set a “market outperform” rating for the company in a report on Friday, May 8th. Finally, Stephens dropped their target price on Paylocity from $160.00 to $120.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Paylocity currently has a consensus rating of “Moderate Buy” and an average price target of $160.53.

Institutional Trading of Paylocity

A number of large investors have recently modified their holdings of PCTY. BlackRock Inc. purchased a new position in Paylocity in the second quarter valued at $430,315,000. Jupiter Topco LLC acquired a new position in Paylocity during the 2nd quarter worth $70,540,000. Alyeska Investment Group L.P. purchased a new stake in Paylocity during the 3rd quarter worth about $104,657,000. Norges Bank purchased a new stake in Paylocity during the 4th quarter worth about $88,428,000. Finally, Deutsche Bank AG acquired a new stake in Paylocity in the 2nd quarter valued at about $54,906,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

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.