Paylocity (NASDAQ:PCTY) Director Steven Sarowitz Sells 13,700 Shares of Company Stock

Paylocity Holding Corporation (NASDAQ:PCTY) Director Steven Sarowitz sold 13,700 shares of the firm’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $176.05, for a total transaction of $2,411,885.00. Following the completion of the transaction, the director owned 4,363,769 shares in the company, valued at $768,241,532.45. The trade was a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Trading Down 3.6%

Shares of PCTY opened at $170.07 on Wednesday. Paylocity Holding Corporation has a one year low of $92.99 and a one year high of $178.53. The company’s fifty day moving average price is $153.12 and its 200 day moving average price is $126.40.

Paylocity (NASDAQ:PCTY) last released its earnings results 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. The firm had revenue of $444.73 million for the quarter, compared to analyst estimates of $431.46 million. During the same period in the prior year, the firm earned $1.56 EPS. The firm’s revenue was up 11.0% on a year-over-year basis. As a group, equities analysts predict that Paylocity Holding Corporation will post 6.92 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Paylocity in the second quarter valued at about $430,315,000. Jupiter Topco LLC acquired a new stake in Paylocity during the second quarter worth about $70,540,000. Amundi grew its position in Paylocity by 9.5% during the second quarter. Amundi now owns 663,449 shares of the software maker’s stock worth $69,350,000 after buying an additional 57,291 shares in the last quarter. Van Berkom & Associates Inc. grew its position in Paylocity by 17.8% during the first quarter. Van Berkom & Associates Inc. now owns 616,407 shares of the software maker’s stock worth $66,597,000 after buying an additional 93,065 shares in the last quarter. Finally, Deutsche Bank AG bought a new position in Paylocity during the second quarter valued at about $54,906,000. Institutional investors own 94.76% of the company’s stock.

Key Paylocity News

Here are the key news stories impacting Paylocity this week:

• Positive Sentiment: BTIG Research raised its price target on Paylocity from $180 to $200 and maintained a “buy” rating, implying additional upside based on the referenced share price. BTIG Research rating information
• Neutral Sentiment: Director Steven Sarowitz sold a combined 34,626 shares in transactions dated October 22, 23, and 26, generating approximately $6.1 million. All sales were conducted under a pre-arranged Rule 10b5-1 plan, and the transactions reduced his position by less than 1% overall; however, repeated insider selling can still weigh on sentiment. SEC insider transaction filing
• Neutral Sentiment: Reported short interest was listed at zero shares as of October 26, producing a zero-day days-to-cover ratio. This suggests no measurable short-selling pressure, although the figure may reflect a reporting or data issue.
• Negative Sentiment: A Seeking Alpha analysis downgraded Paylocity, arguing that the company needs more aggressive monetization. The report raises concerns about growth and revenue expansion relative to the stock’s valuation. Paylocity Q1 preview and downgrade

Wall Street Analyst Weigh In

Several analysts recently weighed in on PCTY shares. UBS Group set a $175.00 target price on Paylocity in a research note on Tuesday, September 29th. Guggenheim raised their target price on Paylocity from $180.00 to $200.00 and gave the company a “buy” rating in a report on Friday. Weiss Ratings raised Paylocity from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, September 22nd. Robert W. Baird set a $201.00 price target on Paylocity in a report on Wednesday, August 5th. Finally, BMO Capital Markets upped their price target on Paylocity from $143.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $172.12.

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.