Paylocity (NASDAQ:PCTY) Director Sells 10,445 Shares of Stock

Paylocity Holding Corporation (NASDAQ:PCTY) Director Steven Sarowitz sold 10,445 shares of Paylocity stock in a transaction dated Monday, October 19th. The shares were sold at an average price of $166.26, for a total value of $1,736,585.70. Following the completion of the transaction, the director directly owned 4,414,756 shares in the company, valued at $733,997,332.56. This represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 Trading Down 0.4%

PCTY traded down $0.73 on Wednesday, reaching $169.33. 506,934 shares of the company’s stock were exchanged, compared to its average volume of 773,675. The company’s 50 day moving average is $150.59 and its 200-day moving average is $126.81. The company has a market cap of $8.98 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 1.97 and a beta of 0.50. Paylocity Holding Corporation has a twelve month low of $92.99 and a twelve month high of $171.81. 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 (NASDAQ:PCTY) last posted its quarterly earnings results on Tuesday, August 4th. The software maker reported $1.84 EPS for the quarter, beating the consensus estimate 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 net margin of 15.23% and a return on equity of 27.02%. Paylocity’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.56 earnings per share. Equities analysts predict that Paylocity Holding Corporation will post 6.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PCTY. Robert W. Baird set a $201.00 target price on shares of Paylocity in a research note on Wednesday, August 5th. Jefferies Financial Group reaffirmed a “buy” rating and set a $165.00 price target on shares of Paylocity in a research report on Wednesday, August 5th. BTIG Research upped their price target on shares of Paylocity from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded Paylocity from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. Finally, Citizens Jmp increased their price target on Paylocity from $150.00 to $180.00 and gave the company a “market outperform” rating in a report on Tuesday. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Paylocity presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.53.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its position in Paylocity by 50.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,532 shares of the software maker’s stock valued at $218,000 after purchasing an additional 515 shares during the period. Abel Hall LLC bought a new position in Paylocity during the 3rd quarter worth $273,000. Curated Wealth Partners LLC acquired a new stake in Paylocity in the third quarter worth $498,000. WealthPlan Investment Management LLC acquired a new stake in Paylocity in the third quarter worth $203,000. Finally, Seelaus Asset Management LLC acquired a new stake in Paylocity in the third quarter worth $304,000. 94.76% of the stock is owned by institutional investors and hedge funds.

About Paylocity

Paylocity Holding Corporation (NASDAQ:PCTY) provides cloud-based human capital management (HCM) and payroll software for organizations. Its platform is designed to help employers manage payroll, human resources, employee benefits, talent acquisition, onboarding, performance, learning, and workforce administration through an integrated system.

The company also offers tools for time and labor management, scheduling, employee communications, engagement, surveys, expense management, and other workplace activities.