Paylocity (NASDAQ:PCTY) Director Steven Sarowitz Sells 300 Shares of Company Stock

Paylocity Holding Corporation (NASDAQ:PCTY) Director Steven Sarowitz sold 300 shares of Paylocity stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $180.14, for a total transaction of $54,042.00. Following the transaction, the director directly owned 4,341,095 shares of the company’s stock, valued at approximately $782,004,853.30. This trade represents a 0.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Stock Down 0.6%

Shares of PCTY traded down $1.12 during mid-day trading on Thursday, reaching $178.92. The company had a trading volume of 513,575 shares, compared to its average volume of 776,358. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.09 and a current ratio of 1.04. The firm has a 50-day moving average price of $157.36 and a 200 day moving average price of $127.96. Paylocity Holding Corporation has a 52 week low of $92.99 and a 52 week high of $181.57. The company has a market capitalization of $9.30 billion, a price-to-earnings ratio of 34.67, a price-to-earnings-growth ratio of 2.04 and a beta of 0.43.

Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, November 5th. The software maker reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.16. Paylocity had a return on equity of 27.59% and a net margin of 15.40%. The firm had revenue of $451.67 million for the quarter, compared to analysts’ expectations of $443.12 million. During the same period in the prior year, the firm posted $1.75 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. On average, sell-side analysts forecast that Paylocity Holding Corporation will post 6.94 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on PCTY. KeyCorp increased their price objective on Paylocity from $178.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. UBS Group set a $175.00 price objective on shares of Paylocity in a research report on Tuesday, September 29th. Guggenheim increased their target price on shares of Paylocity from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Barclays raised their price target on Paylocity from $162.00 to $176.00 and gave the company an “equal weight” rating in a report on Friday, November 6th. Finally, TD Cowen lifted their price objective on shares of Paylocity from $168.00 to $177.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $177.82.

Hedge Funds Weigh In On Paylocity

Several hedge funds have recently bought and sold shares of PCTY. California State Teachers Retirement System increased its stake in Paylocity by 18.9% in the 1st quarter. California State Teachers Retirement System now owns 49,614 shares of the software maker’s stock worth $5,360,000 after buying an additional 7,891 shares during the period. Deutsche Bank AG bought a new position in Paylocity in the second quarter worth approximately $54,906,000. Hsbc Holdings PLC lifted its stake in shares of Paylocity by 181.7% during the 2nd quarter. Hsbc Holdings PLC now owns 32,688 shares of the software maker’s stock worth $3,411,000 after purchasing an additional 21,083 shares during the last quarter. Ieq Capital LLC purchased a new stake in shares of Paylocity during the second quarter valued at about $20,119,000. Finally, BlackRock Inc. purchased a new stake in Paylocity during the second quarter valued at approximately $430,315,000. Institutional investors own 94.76% of the company’s stock.

About Paylocity

Paylocity Holding Corporation provides cloud-based human capital management and payroll software to businesses in the United States. Its platform brings together tools that help employers manage payroll, human resources, benefits, and workforce operations. Products and services include payroll processing, benefits administration, time and labor management, talent acquisition and development, employee communications, and expense management. The platform is designed to help organizations streamline administrative work and support employees and managers through a unified system.