Craig Conway Sells 3,145 Shares of Paylocity (NASDAQ:PCTY) Stock

Paylocity Holding Corporation (NASDAQ:PCTY) Director Craig Conway sold 3,145 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $156.80, for a total value of $493,136.00. Following the completion of the transaction, the director directly owned 2,207 shares in the company, valued at $346,057.60. This trade represents a 58.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Paylocity Stock Performance

PCTY stock opened at $156.02 on Wednesday. Paylocity Holding Corporation has a twelve month low of $92.99 and a twelve month high of $178.91. The firm has a market cap of $8.28 billion, a price-to-earnings ratio of 31.52 and a beta of 0.45. The business’s fifty day simple moving average is $133.64 and its two-hundred day simple moving average is $116.91. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07.

Paylocity (NASDAQ:PCTY) last issued 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 firm had revenue of $444.73 million during the quarter, compared to analyst estimates of $431.46 million. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The business’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.56 earnings per share. Analysts predict that Paylocity Holding Corporation will post 6.92 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on PCTY shares. Stephens dropped their target price on shares of Paylocity from $160.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. Weiss Ratings raised shares of Paylocity from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Barclays boosted their price target on Paylocity from $128.00 to $154.00 and gave the company an “equal weight” rating in a report on Wednesday, August 5th. Raymond James Financial set a $140.00 price objective on Paylocity in a research note on Friday, May 8th. Finally, Zacks Research downgraded Paylocity from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Paylocity presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.53.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Paylocity by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,388 shares of the software maker’s stock valued at $25,551,000 after purchasing an additional 7,594 shares in the last quarter. Focus Partners Wealth lifted its position in shares of Paylocity by 24.5% in the 1st quarter. Focus Partners Wealth now owns 1,365 shares of the software maker’s stock worth $256,000 after purchasing an additional 269 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Paylocity by 537.0% during the second quarter. EverSource Wealth Advisors LLC now owns 465 shares of the software maker’s stock valued at $84,000 after purchasing an additional 392 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Paylocity by 2,782.7% during the second quarter. Marshall Wace LLP now owns 35,688 shares of the software maker’s stock valued at $6,466,000 after purchasing an additional 34,450 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in Paylocity by 10.0% during the second quarter. Cerity Partners LLC now owns 19,241 shares of the software maker’s stock valued at $3,486,000 after buying an additional 1,749 shares during the period. 94.76% of the stock is currently owned by institutional investors.

About Paylocity

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.