Paylocity (NASDAQ:PCTY) SVP Sells $708,648.60 in Stock

Paylocity Holding Corporation (NASDAQ:PCTY) SVP Joshua Scutt sold 4,730 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $149.82, for a total value of $708,648.60. Following the completion of the sale, the senior vice president owned 75,729 shares of the company’s stock, valued at $11,345,718.78. The trade was a 5.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Price Performance

Shares of Paylocity stock traded up $3.05 during trading hours on Thursday, hitting $152.36. The company’s stock had a trading volume of 403,122 shares, compared to its average volume of 818,443. The business has a 50 day moving average price of $124.37 and a two-hundred day moving average price of $114.86. Paylocity Holding Corporation has a 12-month low of $92.99 and a 12-month high of $182.83. The company has a market cap of $8.08 billion, a PE ratio of 30.78 and a beta of 0.48. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.22. Paylocity had a return on equity of 27.02% and a net margin of 15.23%.The firm had revenue of $444.73 million during the quarter, compared to analyst estimates of $431.46 million. During the same quarter in the prior year, the company posted $1.56 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Analysts expect that Paylocity Holding Corporation will post 6.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

PCTY has been the subject of a number of research analyst reports. Robert W. Baird set a $201.00 price objective on shares of Paylocity in a report on Wednesday, August 5th. KeyCorp boosted their target price on shares of Paylocity from $172.00 to $178.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Jefferies Financial Group restated a “buy” rating and set a $165.00 target price on shares of Paylocity in a research report on Wednesday, August 5th. Truist Financial cut their target price on shares of Paylocity from $180.00 to $165.00 and set a “buy” rating for the company in a research note on Monday, June 29th. Finally, BMO Capital Markets lifted their price target on shares of Paylocity from $143.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Paylocity has a consensus rating of “Moderate Buy” and an average target price of $160.53.

Institutional Trading of Paylocity

A number of large investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new stake in shares of Paylocity during the 4th quarter worth approximately $30,000. Advisory Services Network LLC purchased a new position in shares of Paylocity in the third quarter valued at $38,000. Optiver Holding B.V. grew its holdings in shares of Paylocity by 5,925.0% in 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 in the last quarter. Global Retirement Partners LLC bought a new stake in Paylocity in the second quarter worth $27,000. Finally, Basecamp Wealth Advisors LLC raised its stake in Paylocity by 4,250.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock valued at $28,000 after purchasing an additional 255 shares in the last quarter. 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.