Insider Selling: Paylocity (NASDAQ:PCTY) Director Sells 10,445 Shares of Stock

Paylocity Holding Corporation (NASDAQ:PCTY) Director Steven Sarowitz sold 10,445 shares of the stock in a transaction dated Monday, October 19th. The stock was sold at an average price of $166.26, for a total transaction of $1,736,585.70. Following the completion of the sale, the director directly owned 4,414,756 shares in the company, valued at approximately $733,997,332.56. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Stock Performance

NASDAQ:PCTY traded down $0.73 during mid-day trading on Wednesday, hitting $169.33. The stock had a trading volume of 506,934 shares, compared to its average volume of 773,675. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of 34.21, a P/E/G ratio of 1.97 and a beta of 0.50. The company has a 50 day simple moving average of $150.59 and a 200-day simple moving average of $126.81. Paylocity Holding Corporation has a 52 week low of $92.99 and a 52 week high of $171.81. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.07.

Paylocity (NASDAQ:PCTY) last posted 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. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The firm had revenue of $444.73 million during the quarter, compared to analyst estimates of $431.46 million. During the same period in the previous year, the business posted $1.56 EPS. Paylocity’s revenue was up 11.0% on a year-over-year basis. On average, research analysts expect 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 and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its stake in shares of Paylocity by 50.6% during the third quarter. Nisa Investment Advisors LLC now owns 1,532 shares of the software maker’s stock valued at $218,000 after acquiring an additional 515 shares during the period. Abel Hall LLC acquired a new position in shares of Paylocity in the 3rd quarter valued at $273,000. Curated Wealth Partners LLC purchased a new position in Paylocity in the 3rd quarter worth about $498,000. WealthPlan Investment Management LLC acquired a new stake in Paylocity during the 3rd quarter worth about $203,000. Finally, Seelaus Asset Management LLC acquired a new stake in Paylocity during the 3rd quarter worth about $304,000. Institutional investors own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Zacks Research cut Paylocity from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Barclays increased their price objective on Paylocity from $154.00 to $162.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 13th. TD Cowen increased their price objective on Paylocity from $168.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. BTIG Research raised their target price on Paylocity from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Robert W. Baird set a $201.00 target price on Paylocity in a research report on Wednesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Paylocity has an average rating of “Moderate Buy” and an average price target of $165.53.

Paylocity Company Profile

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.