Paylocity Holding Corporation (NASDAQ:PCTY) Short Interest Update

Paylocity Holding Corporation (NASDAQ:PCTY) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 2,065,215 shares, a growth of 26.0% from the December 31st total of 1,639,051 shares. Currently, 4.7% of the shares of the company are short sold. Based on an average daily trading volume, of 573,888 shares, the days-to-cover ratio is presently 3.6 days. Based on an average daily trading volume, of 573,888 shares, the days-to-cover ratio is presently 3.6 days. Currently, 4.7% of the shares of the company are short sold.

Insider Activity at Paylocity

In related news, CFO Ryan Glenn sold 1,737 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $143.65, for a total value of $249,520.05. Following the transaction, the chief financial officer directly owned 77,229 shares of the company’s stock, valued at approximately $11,093,945.85. This trade represents a 2.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 19.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Amiral Gestion grew its position in Paylocity by 37.6% in the 3rd quarter. Amiral Gestion now owns 84,703 shares of the software maker’s stock valued at $13,491,000 after acquiring an additional 23,162 shares in the last quarter. Capital Fund Management S.A. purchased a new position in shares of Paylocity in the second quarter valued at approximately $6,877,000. Prudential Financial Inc. boosted its stake in shares of Paylocity by 342.1% in the second quarter. Prudential Financial Inc. now owns 68,883 shares of the software maker’s stock valued at $12,481,000 after purchasing an additional 53,302 shares during the period. Sawgrass Asset Management LLC acquired a new position in shares of Paylocity in the third quarter valued at approximately $9,156,000. Finally, Hussman Strategic Advisors Inc. purchased a new stake in Paylocity during the 2nd quarter worth approximately $2,283,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Weiss Ratings cut shares of Paylocity from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 27th. Zacks Research upgraded Paylocity from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Stephens set a $160.00 target price on shares of Paylocity in a research report on Friday, January 16th. BTIG Research began coverage on shares of Paylocity in a research note on Tuesday, December 16th. They set a “buy” rating and a $180.00 price objective for the company. Finally, Citizens Jmp dropped their price objective on Paylocity from $270.00 to $245.00 and set a “market outperform” rating for the company in a report on Wednesday, November 5th. Fifteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Paylocity currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.05.

Paylocity Price Performance

Shares of PCTY stock traded up $0.59 during mid-day trading on Monday, hitting $135.57. 811,450 shares of the stock traded hands, compared to its average volume of 593,801. The stock has a market cap of $7.37 billion, a P/E ratio of 33.98, a P/E/G ratio of 3.97 and a beta of 0.56. Paylocity has a 52-week low of $131.07 and a 52-week high of $223.80. The stock’s fifty day moving average is $147.29 and its two-hundred day moving average is $158.54.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Tuesday, November 4th. The software maker reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.23. Paylocity had a return on equity of 22.07% and a net margin of 13.75%.The business had revenue of $408.17 million during the quarter, compared to the consensus estimate of $399.53 million. During the same quarter last year, the company earned $1.66 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, equities analysts forecast that Paylocity will post 4.36 EPS for the current fiscal year.

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.