Key Points
- Director Steven Sarowitz sold 13,700 Paylocity shares for approximately $2.41 million at an average price of $176.05. The transaction occurred under a pre-arranged Rule 10b5-1 plan and reduced his direct holdings by 0.31%.
- Paylocity reported quarterly EPS of $1.84, beating estimates of $1.62, while revenue rose 11% year over year to $444.73 million.
- Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $172.12, although one analyst downgraded the stock to “hold” over valuation and monetization concerns.
Paylocity Holding Corporation (NASDAQ:PCTY - Get Free Report) Director Steven Sarowitz sold 13,700 shares of Paylocity stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $176.05, for a total value of $2,411,885.00. Following the sale, the director directly owned 4,363,769 shares in the company, valued at $768,241,532.45. The trade was a 0.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Paylocity Stock Performance
PCTY opened at $170.07 on Wednesday. The stock's 50 day simple moving average is $153.12 and its 200-day simple moving average is $126.40. Paylocity Holding Corporation has a 1 year low of $92.99 and a 1 year high of $178.53.
Paylocity (NASDAQ:PCTY - Get Free Report) last issued its earnings results on Tuesday, August 4th. The software maker reported $1.84 EPS for the quarter, topping the consensus estimate of $1.62 by $0.22. The firm had revenue of $444.73 million during the quarter, compared to the consensus estimate of $431.46 million. The firm's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the business earned $1.56 earnings per share. As a group, equities analysts expect that Paylocity Holding Corporation will post 6.92 earnings per share for the current year.
Hedge Funds Weigh In On Paylocity
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Paylocity during the 2nd quarter worth approximately $430,315,000. Jupiter Topco LLC acquired a new stake in Paylocity in the 2nd quarter valued at $70,540,000. Amundi boosted its stake in Paylocity by 9.5% in the 2nd quarter. Amundi now owns 663,449 shares of the software maker's stock valued at $69,350,000 after buying an additional 57,291 shares in the last quarter. Van Berkom & Associates Inc. boosted its stake in Paylocity by 17.8% in the 1st quarter. Van Berkom & Associates Inc. now owns 616,407 shares of the software maker's stock valued at $66,597,000 after buying an additional 93,065 shares in the last quarter. Finally, Deutsche Bank AG bought a new stake in Paylocity in the second quarter valued at $54,906,000. 94.76% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the stock. KeyCorp increased their price objective on shares of Paylocity from $172.00 to $178.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Guggenheim raised their price objective on shares of Paylocity from $180.00 to $200.00 and gave the stock a "buy" rating in a report on Friday. Citizens Jmp lifted their target price on shares of Paylocity from $150.00 to $180.00 and gave the company a "market outperform" rating in a research report on Tuesday, October 20th. Wall Street Zen cut shares of Paylocity from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Weiss Ratings raised shares of Paylocity from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, September 22nd. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $172.12.
Check Out Our Latest Stock Analysis on PCTY
More Paylocity News
Here are the key news stories impacting Paylocity this week:
- Positive Sentiment: BTIG Research raised its price target on Paylocity from $180 to $200 and maintained a “buy” rating, implying additional upside based on the referenced share price. BTIG Research rating information
- Neutral Sentiment: Director Steven Sarowitz sold a combined 34,626 shares in transactions dated October 22, 23, and 26, generating approximately $6.1 million. All sales were conducted under a pre-arranged Rule 10b5-1 plan, and the transactions reduced his position by less than 1% overall; however, repeated insider selling can still weigh on sentiment. SEC insider transaction filing
- Neutral Sentiment: Reported short interest was listed at zero shares as of October 26, producing a zero-day days-to-cover ratio. This suggests no measurable short-selling pressure, although the figure may reflect a reporting or data issue.
- Negative Sentiment: A Seeking Alpha analysis downgraded Paylocity, arguing that the company needs more aggressive monetization. The report raises concerns about growth and revenue expansion relative to the stock’s valuation. Paylocity Q1 preview and downgrade
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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