Insider Selling: Paylocity (NASDAQ:PCTY) Director Sells $126,728.00 in Stock

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

Paylocity Trading Down 0.9%

Shares of NASDAQ PCTY opened at $154.60 on Thursday. 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 business’s 50 day moving average price is $134.66 and its 200-day moving average price is $117.27. Paylocity Holding Corporation has a fifty-two week low of $92.99 and a fifty-two week high of $178.91. The company has a market cap of $8.20 billion, a price-to-earnings ratio of 31.23 and a beta of 0.45.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data 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 return on equity of 27.02% and a net margin of 15.23%.Paylocity’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.56 EPS. On average, sell-side analysts expect that Paylocity Holding Corporation will post 6.92 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on PCTY. Barclays boosted their target price on Paylocity from $128.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 5th. Stephens cut their price objective on shares of Paylocity from $160.00 to $120.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. Weiss Ratings upgraded shares of Paylocity from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. KeyCorp boosted their target price on shares of Paylocity from $172.00 to $178.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Finally, Citigroup reaffirmed a “buy” rating on shares of Paylocity in a report on Thursday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $160.53.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCTY. Optiver Holding B.V. grew its position in Paylocity by 5,925.0% during the 1st quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock worth $26,000 after purchasing an additional 237 shares during the period. Global Retirement Partners LLC purchased a new stake in shares of Paylocity in the second quarter worth about $27,000. Basecamp Wealth Advisors LLC boosted its stake in shares of Paylocity by 4,250.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock worth $28,000 after buying an additional 255 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Paylocity during the fourth quarter worth about $30,000. Finally, Elevation Wealth Partners LLC grew its holdings in Paylocity by 500.0% during the second quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker’s stock worth $36,000 after acquiring an additional 285 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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.