Paylocity (NASDAQ:PCTY) Director Kenneth Robinson Sells 800 Shares

Paylocity Holding Corporation (NASDAQ:PCTY) Director Kenneth Robinson sold 800 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $158.41, for a total value of $126,728.00. Following the completion of the sale, the director owned 6,745 shares of the company’s stock, valued at approximately $1,068,475.45. This trade represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Paylocity Price Performance

Shares of PCTY stock opened at $160.22 on Tuesday. Paylocity Holding Corporation has a fifty-two week low of $92.99 and a fifty-two week high of $180.86. The firm has a market capitalization of $8.50 billion, a price-to-earnings ratio of 32.37 and a beta of 0.48. 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 stock’s 50-day simple moving average is $132.54 and its 200-day simple moving average is $116.57.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.84 EPS for the quarter, beating the consensus estimate 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%. Paylocity’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $1.56 EPS. As a group, equities analysts forecast that Paylocity Holding Corporation will post 6.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PCTY shares. Truist Financial lowered their price objective on shares of Paylocity from $180.00 to $165.00 and set a “buy” rating for the company in a research note on Monday, June 29th. Weiss Ratings upgraded Paylocity from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Citigroup reaffirmed a “buy” rating on shares of Paylocity in a research report on Thursday, August 6th. Citizens Jmp dropped their price target on Paylocity from $170.00 to $150.00 and set a “market outperform” rating on the stock in a research note on Friday, May 8th. Finally, Raymond James Financial set a $140.00 price target on Paylocity in a research note on Friday, May 8th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $160.53.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PCTY. Los Angeles Capital Management LLC purchased a new stake in Paylocity in the fourth quarter valued at $30,000. Advisory Services Network LLC acquired a new stake in Paylocity during the 3rd quarter worth about $38,000. Optiver Holding B.V. raised its stake 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 valued at $26,000 after buying an additional 237 shares during the last quarter. Global Retirement Partners LLC purchased a new position in shares of Paylocity during the 2nd quarter valued at about $27,000. Finally, Basecamp Wealth Advisors LLC lifted its holdings in shares of Paylocity by 4,250.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock valued at $28,000 after buying an additional 255 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

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.