Paylocity (NASDAQ:PCTY) Stock: Insider Steven Sarowitz Sells 300 Shares

Paylocity Holding Corporation (NASDAQ:PCTY) Director Steven Sarowitz sold 300 shares of Paylocity stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $180.14, for a total transaction of $54,042.00. Following the completion of the transaction, the director owned 4,341,095 shares of the company’s stock, valued at $782,004,853.30. This represents a 0.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Stock Down 0.4%

NASDAQ PCTY traded down $0.70 on Friday, hitting $178.22. 533,578 shares of the stock were exchanged, compared to its average volume of 753,195. Paylocity Holding Corporation has a fifty-two week low of $92.99 and a fifty-two week high of $181.57. The company has a 50-day moving average price of $158.32 and a 200-day moving average price of $128.30. The company has a quick ratio of 1.09, a current ratio of 1.04 and a debt-to-equity ratio of 0.11. The company has a market cap of $9.26 billion, a PE ratio of 34.54, a PEG ratio of 2.04 and a beta of 0.43.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, November 5th. The software maker reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.16. The business had revenue of $451.67 million for the quarter, compared to analyst estimates of $443.12 million. Paylocity had a net margin of 15.40% and a return on equity of 27.59%. The company’s revenue was up 10.7% on a year-over-year basis. During the same period last year, the business earned $1.75 EPS. Sell-side analysts anticipate that Paylocity Holding Corporation will post 6.94 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on PCTY. Jefferies Financial Group reaffirmed a “buy” rating and set a $165.00 price target on shares of Paylocity in a report on Wednesday, August 5th. Zacks Research lowered Paylocity from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. UBS Group set a $175.00 target price on Paylocity in a research note on Tuesday, September 29th. BTIG Research upped their price target on Paylocity from $200.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 6th. Finally, TD Cowen increased their price target on shares of Paylocity from $168.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $177.82.

Hedge Funds Weigh In On Paylocity

Hedge funds have recently made changes to their positions in the company. Optiver Holding B.V. lifted its holdings 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 stake in shares of Paylocity in the 2nd quarter valued at about $27,000. Basecamp Wealth Advisors LLC grew its stake 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 buying an additional 255 shares during the last quarter. Elevation Wealth Partners LLC grew its stake 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 buying an additional 285 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in Paylocity by 58.8% during the 1st quarter. Parallel Advisors LLC now owns 451 shares of the software maker’s stock worth $49,000 after buying an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

About Paylocity

Paylocity Holding Corporation provides cloud-based human capital management and payroll software to businesses in the United States. Its platform brings together tools that help employers manage payroll, human resources, benefits, and workforce operations. Products and services include payroll processing, benefits administration, time and labor management, talent acquisition and development, employee communications, and expense management. The platform is designed to help organizations streamline administrative work and support employees and managers through a unified system.