Paylocity Holding Corporation (NASDAQ:PCTY - Get Free Report) Director Steven Sarowitz sold 8,900 shares of Paylocity stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $171.31, for a total value of $1,524,659.00. Following the completion of the sale, the director owned 4,354,869 shares of the company's stock, valued at approximately $746,032,608.39. The trade was a 0.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Paylocity Stock Performance
Shares of NASDAQ:PCTY opened at $168.50 on Thursday. The stock has a market capitalization of $8.79 billion, a P/E ratio of 34.04, a P/E/G ratio of 2.10 and a beta of 0.50. Paylocity Holding Corporation has a 1-year low of $92.99 and a 1-year high of $178.53. 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 business has a 50-day moving average price of $153.54 and a two-hundred day moving average price of $126.47.
Paylocity (NASDAQ:PCTY - Get Free Report) last released its earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.22. The company had revenue of $444.73 million for the quarter, compared to the consensus estimate of $431.46 million. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The company's revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.56 EPS. Equities analysts predict that Paylocity Holding Corporation will post 6.92 earnings per share for the current year.
Analysts Set New Price Targets
A number of research firms recently weighed in on PCTY. Guggenheim boosted their price target on shares of Paylocity from $180.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, October 23rd. BMO Capital Markets raised their price objective on shares of Paylocity from $143.00 to $175.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Robert W. Baird set a $201.00 target price on shares of Paylocity in a report on Wednesday, August 5th. Wall Street Zen lowered shares of Paylocity from a "buy" rating to a "hold" rating in a report on Saturday, October 24th. Finally, Zacks Research cut shares of Paylocity from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $172.82.
Check Out Our Latest Stock Analysis on Paylocity
Paylocity News Roundup
Here are the key news stories impacting Paylocity this week:
- Positive Sentiment: KeyCorp raised its price target on Paylocity from $178 to $190 and maintained an “overweight” rating, implying approximately 13% upside from the referenced share price. The move reinforces expectations for further appreciation. KeyCorp analyst rating
- Positive Sentiment: BTIG Research reportedly raised its Paylocity price target from $180 to $200 while keeping a “buy” rating. The higher target reflects continued confidence in the company’s growth outlook. BTIG Research analyst rating
- Neutral Sentiment: Paylocity’s latest reported quarter showed stronger-than-expected results, with earnings per share of $1.84 versus a $1.62 consensus estimate and revenue up 11% year over year. Analysts expect approximately $6.92 in full-year EPS, providing a supportive fundamental backdrop.
- Negative Sentiment: Director Steven Sarowitz sold 8,900 shares for approximately $1.5 million on October 27, following sales of 13,700 shares on October 26 and 8,080 shares on October 22. The disclosed transactions totaled about $5.4 million and were executed under a pre-arranged Rule 10b5-1 plan. The sales reduced his holdings by less than 1%, but the repeated insider selling could weigh on sentiment. SEC insider transaction filing
- Negative Sentiment: A Seeking Alpha analysis downgraded Paylocity, arguing that the company needs more aggressive monetization. The report raises concerns that growth and revenue expansion may not fully justify the stock’s valuation. Paylocity Q1 preview and downgrade
Hedge Funds Weigh In On Paylocity
Several hedge funds have recently added to or reduced their stakes in PCTY. BlackRock Inc. acquired a new position in shares of Paylocity during the 2nd quarter worth about $430,315,000. Jupiter Topco LLC bought a new stake in shares of Paylocity in the 2nd quarter valued at about $70,540,000. Amundi raised its position in shares of 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 acquiring an additional 57,291 shares during the period. Van Berkom & Associates Inc. raised its position in shares of 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 acquiring an additional 93,065 shares during the period. Finally, Deutsche Bank AG acquired a new stake in shares of Paylocity in the 2nd quarter valued at approximately $54,906,000. Institutional investors and hedge funds own 94.76% of the company's stock.
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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