Paylocity (NASDAQ:PCTY) Director Craig Conway Sells 3,145 Shares of Stock

Paylocity Holding Corporation (NASDAQ:PCTY) Director Craig Conway sold 3,145 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $156.80, for a total transaction of $493,136.00. Following the transaction, the director directly owned 2,207 shares in the company, valued at approximately $346,057.60. The trade was a 58.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Paylocity Price Performance

Shares of PCTY stock opened at $160.22 on Tuesday. The firm has a fifty day simple moving average of $132.54 and a 200-day simple moving average of $116.57. The company has a market capitalization of $8.50 billion, a PE ratio of 32.37 and a beta of 0.48. Paylocity Holding Corporation has a twelve month low of $92.99 and a twelve month high of $180.86. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.07.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $431.46 million. During the same quarter in the previous year, the firm posted $1.56 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. Equities research analysts anticipate that Paylocity Holding Corporation will post 6.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PCTY. Wall Street Zen downgraded Paylocity from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Weiss Ratings upgraded shares of Paylocity from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Truist Financial decreased their price objective on shares of Paylocity from $180.00 to $165.00 and set a “buy” rating for the company in a report on Monday, June 29th. Citigroup reissued a “buy” rating on shares of Paylocity in a research report on Thursday, August 6th. Finally, Robert W. Baird set a $201.00 price target on Paylocity in a research note on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Paylocity has an average rating of “Moderate Buy” and an average target price of $160.53.

Institutional Trading of Paylocity

Several hedge funds have recently added to or reduced their stakes in PCTY. Optiver Holding B.V. grew its stake in shares of Paylocity by 5,925.0% in the first quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock worth $26,000 after purchasing an additional 237 shares in the last quarter. Global Retirement Partners LLC bought a new stake in shares of Paylocity during the second quarter valued at about $27,000. Basecamp Wealth Advisors LLC raised its stake in shares of Paylocity by 4,250.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock valued at $28,000 after purchasing an additional 255 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Paylocity in the fourth quarter worth about $30,000. Finally, Elevation Wealth Partners LLC lifted its holdings in Paylocity by 500.0% in the second quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker’s stock worth $36,000 after purchasing an additional 285 shares during the period. Institutional investors own 94.76% of the company’s stock.

About Paylocity

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.