Andrew Cappotelli Sells 2,550 Shares of Paylocity (NASDAQ:PCTY) Stock

Paylocity Holding Corporation (NASDAQ:PCTY) SVP Andrew Cappotelli sold 2,550 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $149.83, for a total transaction of $382,066.50. Following the completion of the transaction, the senior vice president directly owned 44,329 shares of the company’s stock, valued at $6,641,814.07. The trade was a 5.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 Performance

PCTY stock traded up $3.05 during trading on Thursday, reaching $152.36. The company had a trading volume of 403,122 shares, compared to its average volume of 818,443. The company has a market cap of $8.08 billion, a price-to-earnings ratio of 30.78 and a beta of 0.48. Paylocity Holding Corporation has a twelve month low of $92.99 and a twelve month high of $182.83. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a 50-day simple moving average of $124.37 and a 200-day simple moving average of $114.86.

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, beating analysts’ consensus estimates of $1.62 by $0.22. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The business had revenue of $444.73 million for the quarter, compared to analyst estimates of $431.46 million. During the same quarter in the prior year, the business posted $1.56 EPS. Paylocity’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, sell-side analysts expect that Paylocity Holding Corporation will post 6.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Truist Financial lowered their price target on Paylocity from $180.00 to $165.00 and set a “buy” rating for the company in a research report on Monday, June 29th. TD Cowen increased their price objective on Paylocity from $168.00 to $177.00 and gave the company a “buy” rating in a report on Thursday. Raymond James Financial set a $140.00 price objective on Paylocity in a report on Friday, May 8th. Barclays raised their price objective on Paylocity from $128.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 5th. Finally, Citizens Jmp decreased their target price on Paylocity from $170.00 to $150.00 and set a “market outperform” rating for the company in a report on Friday, May 8th. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $160.53.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Optiver Holding B.V. lifted its position in Paylocity by 5,925.0% during the first 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 period. Global Retirement Partners LLC acquired a new stake in Paylocity during the 2nd quarter worth about $27,000. Basecamp Wealth Advisors LLC grew its position in Paylocity by 4,250.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock worth $28,000 after purchasing an additional 255 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Paylocity during the 4th quarter valued at about $30,000. Finally, Elevation Wealth Partners LLC raised its stake in shares of Paylocity by 500.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker’s stock valued at $36,000 after buying an additional 285 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

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.