Paylocity (NASDAQ:PCTY) Director Sells 12,846 Shares of Stock

Paylocity Holding Corporation (NASDAQ:PCTY) Director Steven Sarowitz sold 12,846 shares of the stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $176.87, for a total value of $2,272,072.02. Following the sale, the director directly owned 4,377,469 shares in the company, valued at approximately $774,242,942.03. This trade represents a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Trading Down 0.4%

PCTY traded down $0.73 during trading on Monday, reaching $176.46. 592,329 shares of the stock traded hands, compared to its average volume of 770,822. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07. The stock’s 50-day moving average is $152.14 and its 200 day moving average is $128.26. Paylocity Holding Corporation has a 12 month low of $92.99 and a 12 month high of $178.53. The stock has a market capitalization of $9.21 billion, a PE ratio of 35.65, a P/E/G ratio of 2.10 and a beta of 0.50.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.22. The firm had revenue of $444.73 million for the quarter, compared to the consensus estimate of $431.46 million. Paylocity had a return on equity of 27.02% and a net margin of 15.23%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.56 EPS. Equities analysts anticipate that Paylocity Holding Corporation will post 6.92 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on PCTY shares. Weiss Ratings upgraded Paylocity from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. Cantor Fitzgerald raised their target price on Paylocity from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Jefferies Financial Group reiterated a “buy” rating and set a $165.00 target price on shares of Paylocity in a research note on Wednesday, August 5th. UBS Group set a $175.00 price target on shares of Paylocity in a report on Tuesday, September 29th. Finally, Citigroup restated a “market outperform” rating on shares of Paylocity in a research report on Tuesday, October 20th. 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 data from MarketBeat.com, Paylocity currently has an average rating of “Moderate Buy” and a consensus target price of $167.88.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Paylocity in the 2nd quarter worth approximately $430,315,000. Jupiter Topco LLC bought a new stake in shares of Paylocity during the second quarter valued at approximately $70,540,000. Amundi grew its stake in Paylocity by 9.5% in the second quarter. Amundi now owns 663,449 shares of the software maker’s stock worth $69,350,000 after purchasing an additional 57,291 shares during the period. Van Berkom & Associates Inc. grew its stake in Paylocity by 17.8% in the first quarter. Van Berkom & Associates Inc. now owns 616,407 shares of the software maker’s stock worth $66,597,000 after purchasing an additional 93,065 shares during the period. Finally, Deutsche Bank AG purchased a new stake in Paylocity in the second quarter worth $54,906,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

About Paylocity

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.