Insider Selling: Paylocity (NASDAQ:PCTY) Director Sells 13,700 Shares of Company Stock

by · The Markets Daily

Paylocity Holding Corporation (NASDAQ:PCTY – Get Free Report) Director Steven Sarowitz sold 13,700 shares of the business’s stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $176.05, for a total value of $2,411,885.00. Following the completion of the sale, the director owned 4,363,769 shares in the company, valued at $768,241,532.45. This represents a 0.31% decrease in their ownership of the stock. 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 Performance

NASDAQ PCTY traded down $6.39 during trading on Tuesday, hitting $170.07. 784,284 shares of the company’s stock traded hands, compared to its average volume of 769,520. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 2.10 and a beta of 0.50. Paylocity Holding Corporation has a 12-month low of $92.99 and a 12-month high of $178.53. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09. The business has a 50 day moving average of $152.62 and a 200-day moving average of $126.31.

Paylocity (NASDAQ:PCTY – Get Free Report) last posted its 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. The firm had revenue of $444.73 million during 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% on a year-over-year basis. During the same quarter last year, the company earned $1.56 earnings per share. As a group, equities research analysts anticipate that Paylocity Holding Corporation will post 6.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paylocity

A number of institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc boosted its stake in shares of Paylocity by 1.8% in the third quarter. Versant Capital Management Inc now owns 4,639 shares of the software maker’s stock worth $661,000 after acquiring an additional 82 shares during the last quarter. State of Michigan Retirement System raised its stake in Paylocity by 1.0% in the 1st quarter. State of Michigan Retirement System now owns 10,472 shares of the software maker’s stock valued at $1,131,000 after purchasing an additional 100 shares during the last quarter. State of Wyoming lifted its holdings in Paylocity by 16.0% in the 1st quarter. State of Wyoming now owns 861 shares of the software maker’s stock valued at $93,000 after purchasing an additional 119 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Paylocity by 0.4% in the 4th quarter. Hsbc Holdings PLC now owns 29,653 shares of the software maker’s stock valued at $4,535,000 after purchasing an additional 128 shares in the last quarter. Finally, Elevation Wealth Partners LLC boosted its stake in Paylocity by 37.7% during the 3rd quarter. Elevation Wealth Partners LLC now owns 471 shares of the software maker’s stock worth $67,000 after purchasing an additional 129 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors.

Key Headlines Impacting Paylocity

Here are the key news stories impacting Paylocity this week:

  • Positive Sentiment: BTIG Research raised its price target for Paylocity from $180 to $200 and reiterated a “buy” rating, implying meaningful upside from the referenced share price. The firm’s view provides support for the stock by pointing to continued growth potential. BTIG Research raises Paylocity price target
  • Neutral Sentiment: Analyst sentiment remains mixed. Paylocity has a “Moderate Buy” consensus rating, but the average price target of $167.88 is below the referenced trading level. Twelve analysts rate the stock a Buy, while five rate it a Hold.
  • Neutral Sentiment: Reported short interest was listed at zero shares, producing a zero-day days-to-cover ratio. This suggests no measurable short-selling pressure in the cited data, although the report’s description of a “significant increase” conflicts with the zero-share figure.
  • Negative Sentiment: Seeking Alpha downgraded Paylocity in a first-quarter preview, arguing that the company needs more aggressive monetization. The report may have heightened concerns about revenue growth, pricing power and whether the stock’s valuation fully reflects its earnings prospects. Paylocity Q1 preview downgrade
  • Negative Sentiment: Director Steven Sarowitz sold a combined 20,926 shares for approximately $3.7 million across transactions dated October 22 and 23. The sales were conducted under a pre-arranged Rule 10b5-1 plan and reduced his position by less than 0.5%, limiting their significance but still adding modest insider-selling pressure. Paylocity director insider sale

Analyst Ratings Changes

Several research analysts recently commented on the stock. TD Cowen raised their price objective on shares of Paylocity from $168.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Wall Street Zen downgraded Paylocity from a “buy” rating to a “hold” rating in a research report on Saturday. UBS Group set a $175.00 price target on Paylocity in a report on Tuesday, September 29th. Zacks Research lowered Paylocity from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Finally, Robert W. Baird set a $201.00 target price on Paylocity in a research note on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Paylocity has an average rating of “Moderate Buy” and a consensus target price of $172.12.

Check Out Our Latest Research Report 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.

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