Paylocity Holding Corporation (NASDAQ:PCTY) Short Interest Up 26.0% in January

Paylocity Holding Corporation (NASDAQ:PCTY) was the target of a large increase in short interest in January. As of January 15th, there was short interest totaling 2,065,215 shares, an increase of 26.0% from the December 31st total of 1,639,051 shares. Based on an average trading volume of 573,888 shares, the short-interest ratio is currently 3.6 days. Approximately 4.7% of the company’s stock are sold short. Approximately 4.7% of the company’s stock are sold short. Based on an average trading volume of 573,888 shares, the short-interest ratio is currently 3.6 days.

Insider Transactions at Paylocity

In other news, CFO Ryan Glenn sold 1,737 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $143.65, for a total value of $249,520.05. Following the completion of the sale, the chief financial officer owned 77,229 shares in the company, valued at $11,093,945.85. This represents a 2.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 19.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC purchased a new stake in shares of Paylocity in the fourth quarter worth about $27,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Paylocity by 363.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker’s stock valued at $29,000 after purchasing an additional 149 shares during the period. Advisory Services Network LLC bought a new position in shares of Paylocity in the third quarter worth $38,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Paylocity in the third quarter worth $41,000. Finally, Allworth Financial LP raised its position in shares of Paylocity by 88.0% in the third quarter. Allworth Financial LP now owns 282 shares of the software maker’s stock worth $45,000 after buying an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

PCTY has been the subject of several analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Paylocity in a research note on Thursday, January 29th. Stephens set a $160.00 price target on Paylocity in a research report on Friday, January 16th. BTIG Research initiated coverage on Paylocity in a research note on Tuesday, December 16th. They issued a “buy” rating and a $180.00 price objective for the company. Weiss Ratings lowered Paylocity from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, January 27th. Finally, Citizens Jmp reduced their price target on shares of Paylocity from $270.00 to $245.00 and set a “market outperform” rating for the company in a research report on Wednesday, November 5th. Fifteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.05.

Paylocity Price Performance

Shares of PCTY traded down $0.34 during trading hours on Wednesday, hitting $126.92. The company’s stock had a trading volume of 519,323 shares, compared to its average volume of 606,660. The business has a 50 day simple moving average of $146.67 and a two-hundred day simple moving average of $157.75. Paylocity has a 52-week low of $123.71 and a 52-week high of $223.80. The company has a market cap of $6.90 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 3.99 and a beta of 0.54.

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