Paylocity (NASDAQ:PCTY) Director Steven Sarowitz Sells 17,694 Shares of Stock

Paylocity Holding Corporation (NASDAQ:PCTY) Director Steven Sarowitz sold 17,694 shares of the company’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $165.80, for a total transaction of $2,933,665.20. Following the completion of the sale, the director owned 4,430,701 shares of the company’s stock, valued at approximately $734,610,225.80. This represents a 0.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Stock Up 0.0%

PCTY stock traded up $0.07 during mid-day trading on Friday, reaching $166.32. The company had a trading volume of 459,494 shares, compared to its average volume of 662,938. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a 50 day simple moving average of $149.68 and a two-hundred day simple moving average of $125.82. Paylocity Holding Corporation has a 52 week low of $92.99 and a 52 week high of $169.09. The company has a market capitalization of $8.82 billion, a price-to-earnings ratio of 33.60, a PEG ratio of 1.97 and a beta of 0.50.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.22. The firm had revenue of $444.73 million for the quarter, compared to analyst estimates of $431.46 million. Paylocity had a return on equity of 27.02% and a net margin of 15.23%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.56 EPS. As a group, equities analysts predict that Paylocity Holding Corporation will post 6.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paylocity

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. UBS Group set a $175.00 target price on shares of Paylocity in a research note on Tuesday, September 29th. Robert W. Baird set a $201.00 price target on shares of Paylocity in a report on Wednesday, August 5th. Barclays raised their target price on Paylocity from $154.00 to $162.00 and gave the company an “equal weight” rating in a research note on Tuesday. Truist Financial reduced their price objective on Paylocity from $180.00 to $165.00 and set a “buy” rating for the company in a research note on Monday, June 29th. Finally, Zacks Research cut shares of Paylocity from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.76.

Paylocity Company Profile

Paylocity Holding Corporation (NASDAQ:PCTY) provides cloud-based human capital management (HCM) software for organizations and their employees. Its platform is designed to help businesses manage payroll, human resources, employee benefits, workforce administration and related compliance activities through a unified system.

The company’s products and services include payroll processing, tax and regulatory support, time and labor management, benefits administration, talent acquisition and management, employee performance tools, expense management, reporting and analytics.