Ryan Glenn Sells 3,345 Shares of Paylocity (NASDAQ:PCTY) Stock

Paylocity Holding Corporation (NASDAQ:PCTY) CFO Ryan Glenn sold 3,345 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $149.75, for a total value of $500,913.75. Following the sale, the chief financial officer owned 122,563 shares in the company, valued at approximately $18,353,809.25. This represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Trading Up 0.6%

Shares of Paylocity stock opened at $153.34 on Friday. The company’s 50-day moving average price is $126.14 and its 200-day moving average price is $115.25. 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 12-month low of $92.99 and a 12-month high of $182.83. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 30.98 and a beta of 0.48.

Paylocity (NASDAQ:PCTY) last issued 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 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 revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.56 earnings per share. On average, equities analysts expect that Paylocity Holding Corporation will post 6.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Zacks Research cut shares of Paylocity from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Cantor Fitzgerald lifted their price objective on Paylocity from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. BTIG Research boosted their target price on Paylocity from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. TD Cowen upped their target price on Paylocity from $168.00 to $177.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Citigroup reaffirmed a “buy” rating on shares of Paylocity in a report on Thursday, August 6th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $160.53.

Paylocity News Roundup

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, indicating potential upside from the referenced share price. The move signals continued confidence in Paylocity’s growth outlook. Benzinga analyst price-target report
• Positive Sentiment: Paylocity’s 50-day moving average recently moved above its 200-day average, forming a bullish “golden cross.” This technical signal could attract momentum-focused investors and reinforce the stock’s ongoing uptrend. Zacks golden cross analysis
• Positive Sentiment: Recent coverage highlighted the extension of Paylocity’s uptrend after a strong quarterly report. The company reported adjusted earnings of $1.84 per share versus the $1.62 consensus estimate and revenue of $444.7 million versus expectations of $431.5 million, with revenue up 11% year over year. Kalkine Media Paylocity uptrend report
• Neutral Sentiment: CFO Ryan Glenn, SVPs Andrew Cappotelli and Joshua Scutt, and Director Steven I. Sarowitz sold a combined 19,164 shares worth approximately $2.87 million. Because the transactions were executed under pre-arranged Rule 10b5-1 plans, they are a limited signal of near-term pessimism. Sarowitz still owns more than 4.48 million shares, and the other executives retain substantial positions. SEC insider transaction filing

Institutional Investors Weigh In On Paylocity

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Paylocity in the 2nd quarter worth about $430,315,000. Jupiter Topco LLC purchased a new position in shares of Paylocity during the 2nd quarter valued at about $70,540,000. Alyeska Investment Group L.P. purchased a new position in shares of Paylocity during the 3rd quarter valued at about $104,657,000. Norges Bank bought a new stake in Paylocity in the 4th quarter worth approximately $88,428,000. Finally, Deutsche Bank AG bought a new stake in Paylocity in the 2nd quarter worth approximately $54,906,000. Institutional investors own 94.76% of the company’s stock.

Paylocity Company Profile

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.