Paylocity (NASDAQ:PCTY) Director Kenneth Robinson Sells 800 Shares of Stock

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

Paylocity Stock Performance

PCTY stock traded up $2.29 during mid-day trading on Monday, hitting $160.22. 1,039,443 shares of the company were exchanged, compared to its average volume of 803,371. The business has a 50 day simple moving average of $131.32 and a 200-day simple moving average of $116.25. 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 stock has a market capitalization of $8.50 billion, a PE ratio of 32.37 and a beta of 0.47. Paylocity Holding Corporation has a 1-year low of $92.99 and a 1-year high of $180.86.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.22. The firm had revenue of $444.73 million for 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%.The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.56 EPS. On average, equities analysts forecast that Paylocity Holding Corporation will post 6.92 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PCTY. Optiver Holding B.V. boosted its stake in shares of Paylocity by 5,925.0% in the 1st quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock valued at $26,000 after purchasing an additional 237 shares during the last quarter. Global Retirement Partners LLC acquired a new position in Paylocity in the second quarter valued at $27,000. Basecamp Wealth Advisors LLC lifted its holdings in Paylocity by 4,250.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock valued at $28,000 after buying an additional 255 shares during the period. Los Angeles Capital Management LLC bought a new stake in Paylocity during the fourth quarter valued at $30,000. Finally, Elevation Wealth Partners LLC grew its holdings in Paylocity by 500.0% during the 2nd 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. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PCTY. Robert W. Baird set a $201.00 price target on shares of Paylocity in a research note on Wednesday, August 5th. Truist Financial lowered their price target on shares of Paylocity from $180.00 to $165.00 and set a “buy” rating for the company in a report on Monday, June 29th. Zacks Research downgraded Paylocity from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Citigroup reiterated a “buy” rating on shares of Paylocity in a report on Thursday, August 6th. Finally, Barclays boosted their price objective on shares of Paylocity from $128.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.