Andrew Cappotelli Sells 69 Shares of Paylocity (NASDAQ:PCTY) Stock

Paylocity Holding Corporation (NASDAQ:PCTY) SVP Andrew Cappotelli sold 69 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $152.37, for a total value of $10,513.53. Following the completion of the transaction, the senior vice president owned 44,202 shares in the company, valued at approximately $6,735,058.74. This trade represents a 0.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Andrew Cappotelli also recently made the following trade(s):

• On Wednesday, August 19th, Andrew Cappotelli sold 2,550 shares of Paylocity stock. The shares were sold at an average price of $149.83, for a total value of $382,066.50.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $142.86 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a fifty-two week low of $92.99 and a fifty-two week high of $172.63. The business has a 50 day moving average price of $139.53 and a two-hundred day moving average price of $118.98. The firm has a market cap of $7.58 billion, a PE ratio of 28.86 and a beta of 0.45.

Paylocity (NASDAQ:PCTY) last announced its 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. The company had revenue of $444.73 million for the quarter, compared to analyst estimates of $431.46 million. Paylocity had a return on equity of 27.02% and a net margin of 15.23%.Paylocity’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.56 EPS. Sell-side analysts expect that Paylocity Holding Corporation will post 6.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paylocity

Several hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System raised its holdings in shares of Paylocity by 10,474.6% during the second quarter. California State Teachers Retirement System now owns 5,246,465 shares of the software maker’s stock worth $548,413,000 after acquiring an additional 5,196,851 shares in the last quarter. BlackRock Inc. acquired a new stake in Paylocity during the second quarter valued at $430,315,000. Jupiter Topco LLC purchased a new position in Paylocity in the second quarter valued at about $70,540,000. Alyeska Investment Group L.P. purchased a new position in Paylocity in the third quarter valued at about $104,657,000. Finally, Norges Bank acquired a new position in Paylocity in the 4th quarter worth about $88,428,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Zacks Research downgraded shares of Paylocity from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Weiss Ratings raised shares of Paylocity from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Cantor Fitzgerald boosted their target price on shares of Paylocity from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. TD Cowen upped their target price 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. Finally, Barclays increased their price target on shares of Paylocity from $128.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.53.

Paylocity Company Profile

Paylocity Holding Corporation is a provider of cloud-based human capital management (HCM) and workforce management software. Its platform is designed to help organizations manage payroll, human resources, employee benefits, talent, compliance and workforce operations through a unified system.

The company’s products and services include payroll processing, time and labor management, benefits administration, recruiting, onboarding, performance management, employee surveys and workplace communication tools.