Paylocity (NASDAQ:PCTY) Director Steven Sarowitz Sells 300 Shares of Stock

Paylocity Holding Corporation (NASDAQ:PCTY) Director Steven Sarowitz sold 300 shares of the business’s stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $180.14, for a total value of $54,042.00. Following the sale, the director owned 4,341,095 shares in the company, valued at approximately $782,004,853.30. The trade was a 0.01% 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 Stock Down 0.6%

Paylocity stock opened at $178.92 on Friday. Paylocity Holding Corporation has a fifty-two week low of $92.99 and a fifty-two week high of $181.57. The firm has a market capitalization of $9.30 billion, a price-to-earnings ratio of 34.67, a price-to-earnings-growth ratio of 2.05 and a beta of 0.43. The stock’s fifty day moving average is $157.85 and its two-hundred day moving average is $128.12. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.09 and a current ratio of 1.04.

Paylocity (NASDAQ:PCTY) last released its quarterly 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. Paylocity had a return on equity of 27.59% and a net margin of 15.40%. The business had revenue of $451.67 million during the quarter, compared to the consensus estimate of $443.12 million. During the same quarter in the previous year, the company posted $1.75 EPS. The business’s revenue was up 10.7% on a year-over-year basis. Analysts predict that Paylocity Holding Corporation will post 6.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PCTY has been the subject of a number of research reports. Zacks Research cut shares of Paylocity from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Cantor Fitzgerald increased their price target on shares of Paylocity from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Citizens Jmp raised their price objective on shares of Paylocity from $180.00 to $200.00 and gave the stock a “market outperform” rating in a research note on Friday, November 6th. 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 research note on Thursday, August 20th. Finally, UBS Group set a $175.00 price objective on Paylocity in a research report on Tuesday, September 29th. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $177.82.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Paylocity during the second quarter worth about $430,315,000. Jupiter Topco LLC purchased a new position in shares of Paylocity during the second quarter valued at approximately $70,540,000. Amundi boosted its position in Paylocity by 9.5% during the second quarter. Amundi now owns 663,449 shares of the software maker’s stock worth $69,350,000 after acquiring an additional 57,291 shares during the last quarter. Van Berkom & Associates Inc. boosted its position in Paylocity by 17.8% during the first quarter. Van Berkom & Associates Inc. now owns 616,407 shares of the software maker’s stock worth $66,597,000 after acquiring an additional 93,065 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its position in Paylocity by 16.6% during the third quarter. GW&K Investment Management LLC now owns 386,143 shares of the software maker’s stock worth $55,053,000 after acquiring an additional 55,005 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Company Profile

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.