Key Points
- Director Steven Sarowitz sold 11,136 Paylocity shares at an average price of $150.81, generating approximately $1.68 million. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan and reduced his holdings by 0.24%.
- Paylocity reported quarterly adjusted EPS of $1.84, beating estimates of $1.62, while revenue rose 11% year over year to $444.73 million, above expectations.
- Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $160; institutional investors own approximately 94.76% of the company’s shares.
Paylocity Holding Corporation (NASDAQ:PCTY - Get Free Report) Director Steven Sarowitz sold 11,136 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $150.81, for a total transaction of $1,679,420.16. Following the sale, the director owned 4,535,052 shares of the company's stock, valued at approximately $683,931,192.12. This represents a 0.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Paylocity Trading Down 3.2%
Shares of Paylocity stock opened at $145.65 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $7.73 billion, a P/E ratio of 29.42 and a beta of 0.48. Paylocity Holding Corporation has a 1 year low of $92.99 and a 1 year high of $182.83. The company's fifty day moving average is $119.57 and its two-hundred day moving average is $114.58.
Paylocity (NASDAQ:PCTY - Get Free Report) last announced its earnings results on Tuesday, August 4th. The software maker reported $1.84 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.22. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The business had revenue of $444.73 million during the quarter, compared to analysts' expectations of $431.46 million. During the same period in the prior year, the company earned $1.56 earnings per share. The business's revenue was up 11.0% compared to the same quarter last year. Analysts forecast that Paylocity Holding Corporation will post 6.33 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several analysts have commented on the company. BTIG Research upped their price objective on Paylocity from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Citizens Jmp lowered their target price on Paylocity from $170.00 to $150.00 and set a "market outperform" rating on the stock in a research note on Friday, May 8th. Jefferies Financial Group reissued a "buy" rating and issued a $165.00 target price on shares of Paylocity in a report on Wednesday, August 5th. BMO Capital Markets upped their price target on Paylocity from $143.00 to $175.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Paylocity in a report on Tuesday, July 21st. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $160.00.
Read Our Latest Stock Report on Paylocity
Institutional Trading of Paylocity
A number of institutional investors have recently bought and sold shares of PCTY. West Family Investments Inc. acquired a new stake in Paylocity in the second quarter valued at $321,000. Great Lakes Advisors LLC acquired a new position in shares of Paylocity during the 2nd quarter worth $439,000. Alamar Capital Management LLC acquired a new position in shares of Paylocity during the 2nd quarter worth $798,000. Meeder Advisory Services Inc. purchased a new stake in shares of Paylocity in the 2nd quarter worth about $213,000. Finally, Citizens Financial Group Inc. RI purchased a new stake in shares of Paylocity in the 2nd quarter worth about $318,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.
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.
Further Reading
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