Paylocity (NASDAQ:PCTY) SVP Andrew Cappotelli Sells 2,550 Shares of Stock

Paylocity Holding Corporation (NASDAQ:PCTY - Get Free Report) SVP Andrew Cappotelli sold 2,550 shares of the firm's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $149.83, for a total value of $382,066.50. Following the completion of the transaction, the senior vice president owned 44,329 shares in the company, valued at $6,641,814.07. The trade was a 5.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Trading Up 2.0%

• 3 Payroll Software Makers Set For Growth In 2023

Shares of NASDAQ PCTY opened at $152.36 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $8.08 billion, a PE ratio of 30.78 and a beta of 0.48. Paylocity Holding Corporation has a twelve month low of $92.99 and a twelve month high of $182.83. The stock has a fifty day simple moving average of $125.25 and a 200-day simple moving average of $114.98.

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Paylocity (NASDAQ:PCTY - Get Free Report) last posted its 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 return on equity of 27.02% and a net margin of 15.23%.The firm had revenue of $444.73 million for the quarter, compared to analyst estimates of $431.46 million. During the same quarter in the prior year, the company earned $1.56 EPS. Paylocity's revenue was up 11.0% on a year-over-year basis. On average, equities analysts forecast that Paylocity Holding Corporation will post 6.86 earnings per share for the current year.

Wall Street Analyst Weigh In

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Several brokerages recently weighed in on PCTY. Zacks Research downgraded shares of Paylocity from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Truist Financial decreased their price target on shares of Paylocity from $180.00 to $165.00 and set a "buy" rating for the company in a research report on Monday, June 29th. Robert W. Baird set a $201.00 price target on shares of Paylocity in a research note on Wednesday, August 5th. Barclays increased their price objective on Paylocity from $128.00 to $154.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 5th. Finally, BTIG Research lifted their target price on Paylocity from $150.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Paylocity presently has a consensus rating of "Moderate Buy" and an average target price of $160.53.

Get Our Latest Report on Paylocity

Key Stories Impacting Paylocity

Here are the key news stories impacting Paylocity this week:

• Positive Sentiment: TD Cowen raised its price target for Paylocity from $168 to $177 and maintained a “buy” rating, implying roughly 16% upside from the referenced share price. The upgrade reflects continued confidence in the company’s outlook. Benzinga analyst price-target report
• Positive Sentiment: Paylocity’s 50-day moving average recently crossed above its 200-day moving average, creating a bullish “golden cross” signal. The technical setup may attract momentum-oriented investors, particularly after the stock reached a significant support level. Zacks golden cross analysis
• Positive Sentiment: A recent report said Paylocity’s uptrend extended following a strong earnings print. The company’s latest results also exceeded consensus expectations for both earnings and revenue, supporting the positive investor sentiment. Kalkine Media Paylocity uptrend report
• Neutral Sentiment: Paylocity CFO Ryan Glenn, SVPs Andrew Cappotelli and Joshua Scutt, and Director Steven I. Sarowitz collectively sold approximately 19,164 shares worth about $2.87 million. Each transaction was executed under a pre-arranged Rule 10b5-1 trading plan, reducing its value as a signal of near-term concerns. Sarowitz continues to own more than 4.48 million shares, while the executives retain substantial positions. SEC insider transaction filing

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCTY. Optiver Holding B.V. raised its holdings in shares of Paylocity by 5,925.0% in the 1st quarter. Optiver Holding B.V. now owns 241 shares of the software maker's stock valued at $26,000 after purchasing an additional 237 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Paylocity during the second quarter worth $27,000. Basecamp Wealth Advisors LLC increased its holdings in Paylocity by 4,250.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker's stock valued at $28,000 after buying an additional 255 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Paylocity in the fourth quarter valued at $30,000. Finally, Elevation Wealth Partners LLC raised its stake in Paylocity by 500.0% in the second quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker's stock valued at $36,000 after buying an additional 285 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

About Paylocity

(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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