Paylocity (NASDAQ:PCTY) Director Sells 5,744 Shares of Stock

Paylocity Holding Corporation (NASDAQ:PCTY) Director Steven Sarowitz sold 5,744 shares of the company’s stock in a transaction that occurred on Wednesday, October 21st. The shares were sold at an average price of $170.28, for a total transaction of $978,088.32. Following the completion of the sale, the director owned 4,398,395 shares of the company’s stock, valued at approximately $748,958,700.60. This trade represents a 0.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Trading Down 0.3%

Paylocity stock traded down $0.48 during midday trading on Friday, reaching $177.19. The stock had a trading volume of 456,923 shares, compared to its average volume of 771,697. Paylocity Holding Corporation has a twelve month low of $92.99 and a twelve month high of $178.24. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $9.40 billion, a price-to-earnings ratio of 35.80, a PEG ratio of 2.01 and a beta of 0.50. The firm’s fifty day simple moving average is $151.56 and its two-hundred day simple moving average is $127.76.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.22. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The company had revenue of $444.73 million for the quarter, compared to the consensus estimate of $431.46 million. During the same period in the previous year, the business earned $1.56 EPS. The company’s revenue was up 11.0% on a year-over-year basis. Equities analysts anticipate that Paylocity Holding Corporation will post 6.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PCTY shares. BMO Capital Markets lifted their price target on Paylocity from $143.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Wall Street Zen raised Paylocity from a “hold” rating to a “buy” rating in a research note on Saturday, September 19th. Citizens Jmp raised their price objective on Paylocity from $150.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Tuesday. Citigroup reaffirmed a “market outperform” rating on shares of Paylocity in a research note on Tuesday. Finally, Barclays lifted their target price on Paylocity from $154.00 to $162.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 13th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $166.71.

Institutional Trading of Paylocity

Several hedge funds and other institutional investors have recently modified their holdings of the company. Fifth Third Wealth Advisors LLC purchased a new position in Paylocity in the third quarter valued at about $281,000. MBL Wealth LLC acquired a new position in Paylocity in the 3rd quarter worth about $287,000. Root Financial Partners LLC purchased a new stake in shares of Paylocity during the 3rd quarter worth about $96,000. Nisa Investment Advisors LLC raised its stake in shares of Paylocity by 50.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,532 shares of the software maker’s stock worth $218,000 after purchasing an additional 515 shares in the last quarter. Finally, Abel Hall LLC purchased a new stake in shares of Paylocity during the 3rd quarter worth about $273,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

About Paylocity

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.