Paylocity (NASDAQ:PCTY) Director Steven Sarowitz Sells 8,539 Shares

Paylocity Holding Corporation (NASDAQ:PCTY) Director Steven Sarowitz sold 8,539 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $150.20, for a total transaction of $1,282,557.80. Following the sale, the director directly owned 4,480,055 shares in the company, valued at $672,904,261. This represents a 0.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Stock Performance

NASDAQ PCTY opened at $152.36 on Friday. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 30.78 and a beta of 0.48. The company has a 50 day moving average of $125.25 and a 200-day moving average of $114.98. 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 Holding Corporation has a 1-year low of $92.99 and a 1-year high of $182.83.

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. The company had revenue of $444.73 million during the quarter, compared to analysts’ expectations of $431.46 million. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. Paylocity’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.56 earnings per share. On average, equities analysts forecast that Paylocity Holding Corporation will post 6.86 earnings per share for the current fiscal year.

Key Stories Impacting Paylocity

Here are the key news stories impacting Paylocity this week:

• Positive Sentiment: TD Cowen raised its price target for Paylocity from $168 to $177 and maintained a “buy” rating, implying roughly 16% upside from the referenced share price. The upgrade reflects continued confidence in the company’s outlook. Benzinga analyst price-target report
• Positive Sentiment: Paylocity’s 50-day moving average recently crossed above its 200-day moving average, creating a bullish “golden cross” signal. The technical setup may attract momentum-oriented investors, particularly after the stock reached a significant support level. Zacks golden cross analysis
• Positive Sentiment: A recent report said Paylocity’s uptrend extended following a strong earnings print. The company’s latest results also exceeded consensus expectations for both earnings and revenue, supporting the positive investor sentiment. Kalkine Media Paylocity uptrend report
• Neutral Sentiment: Paylocity CFO Ryan Glenn, SVPs Andrew Cappotelli and Joshua Scutt, and Director Steven I. Sarowitz collectively sold approximately 19,164 shares worth about $2.87 million. Each transaction was executed under a pre-arranged Rule 10b5-1 trading plan, reducing its value as a signal of near-term concerns. Sarowitz continues to own more than 4.48 million shares, while the executives retain substantial positions. SEC insider transaction filing

Institutional Investors Weigh In On Paylocity

Several hedge funds and other institutional investors have recently made changes to their positions in PCTY. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Paylocity by 60.8% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 47,486 shares of the software maker’s stock worth $7,249,000 after buying an additional 17,950 shares during the last quarter. California State Teachers Retirement System lifted its holdings in Paylocity by 18.9% in the first quarter. California State Teachers Retirement System now owns 49,614 shares of the software maker’s stock valued at $5,360,000 after buying an additional 7,891 shares during the period. Pictet Asset Management Holding SA boosted its stake in Paylocity by 32.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 198,150 shares of the software maker’s stock valued at $30,218,000 after acquiring an additional 48,380 shares during the last quarter. UBS Group AG boosted its stake in Paylocity by 38.3% in the fourth quarter. UBS Group AG now owns 415,879 shares of the software maker’s stock valued at $63,422,000 after acquiring an additional 115,111 shares during the last quarter. Finally, Comerica Bank grew its holdings in Paylocity by 36.3% during the 4th quarter. Comerica Bank now owns 46,064 shares of the software maker’s stock worth $7,025,000 after acquiring an additional 12,261 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PCTY shares. Citigroup reissued a “buy” rating on shares of Paylocity in a research note on Thursday, August 6th. Truist Financial lowered their target price on Paylocity from $180.00 to $165.00 and set a “buy” rating for the company in a research note on Monday, June 29th. Stephens cut their price target on Paylocity from $160.00 to $120.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. TD Cowen upped their price target on shares of Paylocity from $168.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Cantor Fitzgerald raised their price objective on shares of Paylocity from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Paylocity currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.53.

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.