Key Points
- Paylocity SVP Andrew Cappotelli sold 69 shares for $10,513.53 under a pre-arranged Rule 10b5-1 plan, leaving him with 44,202 shares. He had also sold 2,550 shares in August.
- Paylocity’s latest quarterly results exceeded expectations, with EPS of $1.84 versus the $1.62 consensus and revenue of $444.73 million, up 11% year over year.
- Analysts maintain a generally positive outlook, with 12 Buy ratings and five Holds and a consensus price target of $160.53; institutional investors own 94.76% of the company.
Paylocity Holding Corporation (NASDAQ:PCTY - Get Free Report) SVP Andrew Cappotelli sold 69 shares of the business's stock in a transaction on Friday, September 4th. The shares were sold at an average price of $152.37, for a total transaction of $10,513.53. Following the completion of the sale, the senior vice president owned 44,202 shares in the company, valued at $6,735,058.74. This represents a 0.16% 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.
Andrew Cappotelli also recently made the following trade(s):
- On Wednesday, August 19th, Andrew Cappotelli sold 2,550 shares of Paylocity stock. The stock was sold at an average price of $149.83, for a total transaction of $382,066.50.
Paylocity Trading Down 1.0%
Shares of PCTY stock opened at $142.10 on Thursday. The company has a market capitalization of $7.54 billion, a P/E ratio of 28.71 and a beta of 0.45. Paylocity Holding Corporation has a 12-month low of $92.99 and a 12-month high of $172.63. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $138.98 and a 200 day moving average price of $118.71.
Paylocity (NASDAQ:PCTY - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $431.46 million. During the same period last year, the firm posted $1.56 EPS. The business's revenue was up 11.0% on a year-over-year basis. Research analysts forecast that Paylocity Holding Corporation will post 6.92 earnings per share for the current fiscal year.
Institutional Trading of Paylocity
A number of large investors have recently bought and sold shares of the business. California State Teachers Retirement System boosted its position in shares of Paylocity by 18.9% during the first quarter. California State Teachers Retirement System now owns 49,614 shares of the software maker's stock worth $5,360,000 after buying an additional 7,891 shares during the period. Deutsche Bank AG acquired a new position in Paylocity during the 2nd quarter worth approximately $54,906,000. BlackRock Inc. bought a new position in shares of Paylocity during the 2nd quarter worth approximately $430,315,000. Royal Bank of Canada raised its holdings in shares of Paylocity by 40.5% in the first quarter. Royal Bank of Canada now owns 134,181 shares of the software maker's stock valued at $14,496,000 after purchasing an additional 38,697 shares during the last quarter. Finally, Ieq Capital LLC bought a new stake in shares of Paylocity in the second quarter worth $20,119,000. 94.76% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts recently issued reports on PCTY shares. Citigroup reiterated a "buy" rating on shares of Paylocity in a report on Thursday, August 6th. Truist Financial decreased their target price on Paylocity from $180.00 to $165.00 and set a "buy" rating for the company in a research report on Monday, June 29th. BMO Capital Markets lifted their price objective on shares of Paylocity from $143.00 to $175.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. KeyCorp boosted their price objective on shares of Paylocity from $172.00 to $178.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th. Finally, TD Cowen increased their target price on shares of Paylocity from $168.00 to $177.00 and gave the stock a "buy" rating in a report on Thursday, August 20th. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $160.53.
Check Out Our Latest Report on PCTY
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.
Further Reading
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