Key Points
- Director Steven Sarowitz sold 5,500 Paylocity shares at an average price of $166.05, generating $913,275. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan and reduced his position by 0.12%.
- Paylocity reported quarterly revenue of $444.73 million and earnings of $1.84 per share, exceeding analyst estimates; revenue increased 11% year over year.
- Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $163.76, while institutional investors own 94.76% of the company.
Paylocity Holding Corporation (NASDAQ:PCTY - Get Free Report) Director Steven Sarowitz sold 5,500 shares of Paylocity stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $166.05, for a total value of $913,275.00. Following the sale, the director directly owned 4,425,201 shares in the company, valued at $734,804,626.05. This trade represents a 0.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Paylocity Stock Down 0.1%
NASDAQ PCTY opened at $166.17 on Tuesday. The stock's 50 day moving average is $150.09 and its 200 day moving average is $126.35. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a 12 month low of $92.99 and a 12 month high of $169.09. The stock has a market cap of $8.82 billion, a PE ratio of 29.13, a P/E/G ratio of 1.97 and a beta of 0.50.
Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share 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 business had revenue of $444.73 million during the quarter, compared to the consensus estimate of $431.46 million. During the same period in the prior year, the company posted $1.56 EPS. The firm's revenue for the quarter was up 11.0% compared to the same quarter last year. Research analysts predict that Paylocity Holding Corporation will post 6.92 EPS for the current fiscal year.
Institutional Investors Weigh In On Paylocity
Several large investors have recently added to or reduced their stakes in the stock. Abel Hall LLC purchased a new stake in Paylocity in the third quarter valued at about $273,000. Curated Wealth Partners LLC acquired a new stake in Paylocity in the third quarter worth about $498,000. WealthPlan Investment Management LLC acquired a new stake in Paylocity in the third quarter worth about $203,000. Seelaus Asset Management LLC purchased a new stake in shares of Paylocity during the third quarter worth about $304,000. Finally, Krilogy Financial LLC grew its stake in shares of Paylocity by 6.5% during the third quarter. Krilogy Financial LLC now owns 6,741 shares of the software maker's stock worth $1,052,000 after acquiring an additional 410 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
PCTY has been the topic of several research analyst reports. BTIG Research boosted their target price on shares of Paylocity from $150.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Citigroup reaffirmed a "buy" rating on shares of Paylocity in a research note on Thursday, August 6th. TD Cowen lifted their price target on shares of Paylocity from $168.00 to $177.00 and gave the company a "buy" rating in a report on Thursday, August 20th. Robert W. Baird set a $201.00 price target on shares of Paylocity in a research note on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Paylocity from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, September 22nd. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $163.76.
View Our Latest Analysis on Paylocity
About Paylocity
(
Get Free Report)
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.
Further Reading
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