Key Points
- Director Steven Sarowitz sold 400 shares for $72,016 under a pre-arranged Rule 10b5-1 plan, reducing his holdings by 0.01%; he still directly owns about 4.34 million shares.
- Paylocity beat quarterly estimates, reporting EPS of $2.09 versus $1.93 expected and revenue of $451.67 million versus $443.12 million; revenue rose 10.7% year over year.
- Analysts give the stock a consensus “Moderate Buy” rating, with an average price target of $177.82.
Paylocity Holding Corporation (NASDAQ:PCTY - Get Free Report) Director Steven Sarowitz sold 400 shares of the business's stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $180.04, for a total value of $72,016.00. Following the completion of the transaction, the director directly owned 4,340,695 shares in the company, valued at approximately $781,498,727.80. This trade represents a 0.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Paylocity Stock Down 0.4%
Shares of Paylocity stock traded down $0.70 during trading on Friday, reaching $178.22. 533,578 shares of the company traded hands, compared to its average volume of 753,195. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.04 and a quick ratio of 1.09. Paylocity Holding Corporation has a 1-year low of $92.99 and a 1-year high of $181.57. The company has a 50 day moving average price of $158.32 and a 200-day moving average price of $128.30. The firm has a market capitalization of $9.26 billion, a PE ratio of 34.54, a P/E/G ratio of 2.04 and a beta of 0.43.
Paylocity (NASDAQ:PCTY - Get Free Report) last issued its earnings results on Thursday, November 5th. The software maker reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.16. The business had revenue of $451.67 million for the quarter, compared to analyst estimates of $443.12 million. Paylocity had a net margin of 15.40% and a return on equity of 27.59%. Paylocity's revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.75 earnings per share. As a group, equities research analysts expect that Paylocity Holding Corporation will post 6.94 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several analysts recently issued reports on PCTY shares. Citigroup lifted their price target on shares of Paylocity from $208.00 to $214.00 and gave the company a "buy" rating in a research report on Monday, November 9th. UBS Group set a $175.00 target price on shares of Paylocity in a report on Tuesday, September 29th. Wall Street Zen downgraded Paylocity from a "buy" rating to a "hold" rating in a research note on Sunday. Weiss Ratings raised Paylocity from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, September 22nd. Finally, TD Cowen lifted their target price on Paylocity from $168.00 to $177.00 and gave the stock a "buy" rating in a research note 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 stock. According to MarketBeat.com, Paylocity currently has an average rating of "Moderate Buy" and a consensus target price of $177.82.
Read Our Latest Analysis on PCTY
Institutional Investors Weigh In On Paylocity
Hedge funds have recently bought and sold shares of the stock. Optiver Holding B.V. lifted its holdings in shares of Paylocity by 5,925.0% during the 1st quarter. Optiver Holding B.V. now owns 241 shares of the software maker's stock worth $26,000 after acquiring an additional 237 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in Paylocity during the 2nd quarter valued at about $27,000. Basecamp Wealth Advisors LLC boosted its stake in shares of Paylocity by 4,250.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker's stock valued at $28,000 after purchasing an additional 255 shares during the period. Elevation Wealth Partners LLC grew its holdings in Paylocity by 500.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker's stock worth $36,000 after acquiring an additional 285 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Paylocity by 58.8% in the first quarter. Parallel Advisors LLC now owns 451 shares of the software maker's stock worth $49,000 after purchasing an additional 167 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors.
About Paylocity
(
Get Free Report)
Paylocity Holding Corporation provides cloud-based human capital management and payroll software to businesses in the United States. Its platform brings together tools that help employers manage payroll, human resources, benefits, and workforce operations. Products and services include payroll processing, benefits administration, time and labor management, talent acquisition and development, employee communications, and expense management. The platform is designed to help organizations streamline administrative work and support employees and managers through a unified system.
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