Insider Selling: Paylocity (NASDAQ:PCTY) SVP Sells 899 Shares of Stock

Paylocity Holding Corporation (NASDAQ:PCTY) SVP Andrew Cappotelli sold 899 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $115.05, for a total value of $103,429.95. Following the sale, the senior vice president owned 17,679 shares in the company, valued at $2,033,968.95. This trade represents a 4.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Trading Down 0.9%

Shares of PCTY stock traded down $1.04 during mid-day trading on Thursday, hitting $111.72. 544,290 shares of the company’s stock were exchanged, compared to its average volume of 847,015. Paylocity Holding Corporation has a fifty-two week low of $92.99 and a fifty-two week high of $197.91. The stock has a 50-day simple moving average of $106.46 and a two-hundred day simple moving average of $126.29. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.07. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 23.82 and a beta of 0.49.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in Paylocity by 22.1% in the third quarter. JPMorgan Chase & Co. now owns 555,393 shares of the software maker’s stock valued at $88,459,000 after acquiring an additional 100,400 shares during the period. Hillsdale Investment Management Inc. acquired a new position in Paylocity in the third quarter valued at approximately $2,580,000. Sawgrass Asset Management LLC acquired a new position in Paylocity in the third quarter valued at approximately $9,156,000. Assenagon Asset Management S.A. boosted its stake in Paylocity by 311.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 432,070 shares of the software maker’s stock valued at $65,891,000 after acquiring an additional 327,082 shares during the period. Finally, Tudor Investment Corp ET AL boosted its stake in Paylocity by 50.7% in the third quarter. Tudor Investment Corp ET AL now owns 83,304 shares of the software maker’s stock valued at $13,268,000 after acquiring an additional 28,016 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PCTY. Wall Street Zen lowered Paylocity from a “buy” rating to a “hold” rating in a research report on Sunday, February 22nd. Truist Financial cut their target price on Paylocity from $240.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Citigroup increased their target price on Paylocity from $133.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Mizuho cut their target price on Paylocity from $180.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, February 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Paylocity in a research report on Thursday, January 29th. Fourteen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $160.28.

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.