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

Paylocity Holding Corporation (NASDAQ:PCTY) CFO Ryan Glenn sold 3,345 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $149.75, for a total transaction of $500,913.75. Following the sale, the chief financial officer owned 122,563 shares in the company, valued at $18,353,809.25. The trade was 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 Price Performance

Shares of PCTY traded up $3.05 during trading hours on Thursday, reaching $152.36. 403,122 shares of the stock traded hands, compared to its average volume of 818,443. The company has a market cap of $8.08 billion, a P/E ratio of 30.78 and a beta of 0.48. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $124.37 and its two-hundred day moving average price is $114.86. Paylocity Holding Corporation has a 52-week low of $92.99 and a 52-week high of $182.83.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.22. The business had revenue of $444.73 million during the quarter, compared to analyst estimates of $431.46 million. Paylocity had a return on equity of 27.02% and a net margin of 15.23%.Paylocity’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.56 EPS. On average, analysts anticipate that Paylocity Holding Corporation will post 6.86 earnings per share for the current year.

Institutional Trading of Paylocity

A number of large investors have recently added to or reduced their stakes in PCTY. BlackRock Inc. purchased a new stake in shares of Paylocity during the 2nd quarter worth approximately $430,315,000. AQR Capital Management LLC grew its position in Paylocity by 75.1% in the fourth quarter. AQR Capital Management LLC now owns 943,591 shares of the software maker’s stock worth $143,747,000 after acquiring an additional 404,605 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Paylocity by 117.9% in the 4th quarter. Morgan Stanley now owns 817,209 shares of the software maker’s stock worth $124,625,000 after purchasing an additional 442,218 shares during the period. Millennium Management LLC boosted its stake in Paylocity by 97.7% during the third quarter. Millennium Management LLC now owns 748,803 shares of the software maker’s stock worth $119,262,000 after buying an additional 369,975 shares during the period. Finally, Jupiter Topco LLC bought a new stake in shares of Paylocity in the 2nd quarter worth about $70,540,000. Institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Barclays lifted their target price on Paylocity from $128.00 to $154.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 5th. Zacks Research cut shares of Paylocity from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Weiss Ratings raised shares of Paylocity from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Jefferies Financial Group restated a “buy” rating and set a $165.00 target price on shares of Paylocity in a research report on Wednesday, August 5th. Finally, UBS Group raised their target price on shares of Paylocity from $122.00 to $128.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.53.

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.