Key Points
- Director Steven Sarowitz sold 5,744 Paylocity shares for approximately $978,000 under a pre-arranged Rule 10b5-1 plan, reducing his stake by 0.13% while retaining more than 4.39 million shares.
- Paylocity reported quarterly earnings of $1.84 per share, exceeding the $1.62 consensus estimate, while revenue rose 11% year over year to $444.73 million and also surpassed expectations.
- Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $166.71; institutional investors own approximately 94.8% of the company.
Paylocity Holding Corporation (NASDAQ:PCTY - Get Free Report) Director Steven Sarowitz sold 5,744 shares of the stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $170.28, for a total transaction of $978,088.32. Following the transaction, the director owned 4,398,395 shares in the company, valued at approximately $748,958,700.60. The trade was a 0.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Paylocity Stock Down 0.3%
Shares of PCTY opened at $177.19 on Friday. Paylocity Holding Corporation has a 12 month low of $92.99 and a 12 month high of $178.24. The firm's 50 day moving average is $152.14 and its 200-day moving average is $128.11. The stock has a market capitalization of $9.40 billion, a PE ratio of 35.80, a P/E/G ratio of 2.11 and a beta of 0.50. 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 (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.22. The business had revenue of $444.73 million during the quarter, compared to analysts' expectations of $431.46 million. Paylocity had a return on equity of 27.02% and a net margin of 15.23%. The firm's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.56 earnings per share. Equities research analysts forecast that Paylocity Holding Corporation will post 6.92 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on PCTY. Weiss Ratings raised Paylocity from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, September 22nd. Robert W. Baird set a $201.00 price target on Paylocity in a research note on Wednesday, August 5th. UBS Group set a $175.00 price objective on shares of Paylocity in a research report on Tuesday, September 29th. BMO Capital Markets upped their price objective on shares of Paylocity from $143.00 to $175.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen downgraded shares of Paylocity from a "buy" rating to a "hold" rating in a research note on Saturday. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $166.71.
Read Our Latest Report on PCTY
Institutional Investors Weigh In On Paylocity
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Optiver Holding B.V. increased its holdings in Paylocity by 5,925.0% in the 1st quarter. Optiver Holding B.V. now owns 241 shares of the software maker's stock worth $26,000 after purchasing an additional 237 shares in the last quarter. Global Retirement Partners LLC acquired a new position in Paylocity in the 2nd quarter valued at approximately $27,000. Basecamp Wealth Advisors LLC increased its position in Paylocity by 4,250.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker's stock valued at $28,000 after acquiring an additional 255 shares during the period. Elevation Wealth Partners LLC increased its position in Paylocity by 500.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker's stock valued at $36,000 after acquiring an additional 285 shares during the period. Finally, Parallel Advisors LLC raised its stake in shares of Paylocity by 58.8% during the first quarter. Parallel Advisors LLC now owns 451 shares of the software maker's stock valued at $49,000 after acquiring an additional 167 shares during the last quarter. 94.76% of the stock is owned by institutional investors.
Trending Headlines about Paylocity
Here are the key news stories impacting Paylocity this week:
- Positive Sentiment: Paylocity launched its AI-powered Recruiting Optimizer, part of its Ignite AI platform. The company says the tool can improve recruiter productivity by 35%, accelerate hiring by 25% and reduce candidate drop-off by 15%, strengthening its competitive position in cloud-based human capital management software. Paylocity launches AI-powered Recruiting Optimizer
- Positive Sentiment: Citizens JMP raised its price target on PCTY from $150 to $180 while maintaining a “market outperform” rating, indicating confidence in further gains. Citizens JMP raises Paylocity price target
- Positive Sentiment: Zacks highlighted Paylocity’s history of exceeding earnings estimates and said the company currently has the key conditions needed for a potential beat in its next quarterly report. Zacks analysis of Paylocity earnings expectations
- Positive Sentiment: Paylocity’s latest quarterly results beat consensus, with earnings of $1.84 per share versus $1.62 expected and revenue of $444.73 million versus $431.46 million expected. Revenue increased 11% year over year, supporting the company’s growth narrative.
- Neutral Sentiment: Institutional ownership remains high at roughly 94.8%, while several investment firms initiated or expanded positions during the third quarter. The individual trades were relatively small but suggest continued institutional interest.
- Negative Sentiment: Director Steven Sarowitz sold 10,617 shares for approximately $1.80 million on October 20 and 5,744 shares for about $978,000 on October 21, following an earlier sale of 10,445 shares. The transactions were executed under pre-arranged Rule 10b5-1 plans, and Sarowitz still owns more than 4.39 million shares, making the sales a modest reduction in his stake; nevertheless, repeated insider selling can create some pressure while PCTY trades near its 52-week high. Paylocity director stock sale
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.
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