Key Points
- Paylocity SVP Andrew Cappotelli sold 899 shares on Tuesday, May 19 at an average price of $115.05, for proceeds of about $103,430. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Cappotelli held 17,679 shares valued at roughly $2.03 million, representing a 4.84% reduction in his ownership stake.
- Paylocity shares recently traded at $111.72, while analysts currently have a Moderate Buy consensus with an average price target of $160.28. However, several firms have recently trimmed targets, reflecting mixed sentiment on the stock.
Paylocity Holding Corporation (NASDAQ:PCTY - Get Free Report) SVP Andrew Cappotelli sold 899 shares of Paylocity stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $115.05, for a total value of $103,429.95. Following the sale, the senior vice president owned 17,679 shares in the company, valued at $2,033,968.95. This trade represents a 4.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Paylocity Stock Performance
Shares of Paylocity stock opened at $111.72 on Friday. The business's fifty day simple moving average is $106.40 and its 200 day simple moving average is $126.08. The firm has a market capitalization of $5.98 billion, a P/E ratio of 23.82 and a beta of 0.49. Paylocity Holding Corporation has a 12 month low of $92.99 and a 12 month high of $197.91. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.07.
Institutional Trading of Paylocity
Several hedge funds have recently made changes to their positions in PCTY. JPMorgan Chase & Co. grew its position in shares of Paylocity by 22.1% in the third quarter. JPMorgan Chase & Co. now owns 555,393 shares of the software maker's stock valued at $88,459,000 after purchasing an additional 100,400 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Paylocity during the 3rd quarter valued at $2,580,000. Sawgrass Asset Management LLC bought a new stake in shares of Paylocity during the 3rd quarter valued at $9,156,000. Assenagon Asset Management S.A. raised its stake in shares of Paylocity by 311.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 432,070 shares of the software maker's stock valued at $65,891,000 after purchasing an additional 327,082 shares during the period. Finally, Tudor Investment Corp ET AL raised its stake in shares of Paylocity by 50.7% during the 3rd quarter. Tudor Investment Corp ET AL now owns 83,304 shares of the software maker's stock valued at $13,268,000 after purchasing an additional 28,016 shares during the period. 94.76% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of analysts recently commented on the company. Stephens dropped their price target on Paylocity from $160.00 to $120.00 and set an "equal weight" rating on the stock in a report on Friday, May 8th. Raymond James Financial set a $140.00 price target on Paylocity in a report on Friday, May 8th. Truist Financial decreased their target price on Paylocity from $240.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, February 6th. Weiss Ratings restated a "sell (d+)" rating on shares of Paylocity in a research note on Friday, April 24th. Finally, BMO Capital Markets boosted their target price on Paylocity from $135.00 to $143.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $160.28.
Read Our Latest Stock Analysis on PCTY
Paylocity Company Profile
(
Get Free Report)
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.
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