Paylocity (NASDAQ:PCTY) Stock: Insider Steven Sarowitz Sells 400 Shares

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

Paylocity Price Performance

NASDAQ PCTY traded down $0.70 during trading hours on Friday, reaching $178.22. The company’s stock had a trading volume of 533,578 shares, compared to its average volume of 753,195. Paylocity Holding Corporation has a fifty-two week low of $92.99 and a fifty-two week high of $181.57. The stock has a market cap of $9.26 billion, a PE ratio of 34.54, a PEG ratio of 2.04 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. The company’s 50-day moving average is $158.32 and its two-hundred day moving average is $128.30.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, November 5th. The software maker reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.16. Paylocity had a net margin of 15.40% and a return on equity of 27.59%. The business had revenue of $451.67 million during the quarter, compared to analysts’ expectations of $443.12 million. During the same period last year, the company posted $1.75 EPS. The company’s revenue was up 10.7% on a year-over-year basis. Analysts forecast that Paylocity Holding Corporation will post 6.94 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PCTY shares. Weiss Ratings raised Paylocity from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, September 22nd. Barclays upped their price objective on Paylocity from $162.00 to $176.00 and gave the company an “equal weight” rating in a research report on Friday, November 6th. KeyCorp increased their price objective on Paylocity from $178.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th. Zacks Research cut Paylocity from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Wall Street Zen downgraded shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Sunday. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Paylocity has an average rating of “Moderate Buy” and an average price target of $177.82.

Institutional Trading of Paylocity

A number of hedge funds have recently bought and sold shares of the company. Entropy Technologies LP acquired a new position in Paylocity in the 3rd quarter valued at $781,000. FORA Capital LLC purchased a new position in shares of Paylocity during the 3rd quarter worth $232,000. Pathstone Holdings LLC boosted its holdings in shares of Paylocity by 27.3% during the third quarter. Pathstone Holdings LLC now owns 12,401 shares of the software maker’s stock worth $1,813,000 after purchasing an additional 2,659 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Paylocity by 28,740.0% during the third quarter. Steward Partners Investment Advisory LLC now owns 2,884 shares of the software maker’s stock worth $411,000 after purchasing an additional 2,874 shares during the last quarter. Finally, Wealth Alliance LLC acquired a new stake in shares of Paylocity during the third quarter worth $282,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.