Paylocity (NASDAQ:PCTY) Director Kenneth Robinson Sells 800 Shares

Key Points

• Director Kenneth Robinson sold 800 Paylocity shares at an average price of $158.41, generating $126,728 and reducing his ownership by 10.6% to 6,745 shares.
• Paylocity shares rose 1.5% to $160.22, while the company’s latest quarterly results exceeded expectations: adjusted EPS was $1.84 versus $1.62 expected, and revenue increased 11% year over year to $444.73 million.
• Institutional investors own 94.76% of Paylocity, and analysts maintain a “Moderate Buy” consensus with a $160.53 average price target.

Paylocity Holding Corporation (NASDAQ:PCTY - Get Free Report) Director Kenneth Robinson sold 800 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $158.41, for a total transaction of $126,728.00. Following the completion of the sale, the director owned 6,745 shares in the company, valued at approximately $1,068,475.45. This trade represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Paylocity Trading Up 1.5%

Shares of NASDAQ PCTY traded up $2.29 during midday trading on Monday, reaching $160.22. 1,039,443 shares of the stock were exchanged, compared to its average volume of 803,371. Paylocity Holding Corporation has a 12 month low of $92.99 and a 12 month high of $180.86. The company has a market capitalization of $8.50 billion, a price-to-earnings ratio of 32.37 and a beta of 0.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.09. The business has a 50-day simple moving average of $131.32 and a two-hundred day simple moving average of $116.25.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.84 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.22. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The business had revenue of $444.73 million during the quarter, compared to analysts' expectations of $431.46 million. During the same quarter in the prior year, the company earned $1.56 EPS. The firm's quarterly revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts expect that Paylocity Holding Corporation will post 6.92 EPS for the current year.

Institutional Investors Weigh In On Paylocity

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System grew its holdings in shares of Paylocity by 18.9% in the 1st quarter. California State Teachers Retirement System now owns 49,614 shares of the software maker's stock valued at $5,360,000 after acquiring an additional 7,891 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of Paylocity in the 2nd quarter valued at approximately $54,906,000. UBS Group AG lifted its stake in Paylocity by 38.3% in the fourth quarter. UBS Group AG now owns 415,879 shares of the software maker's stock valued at $63,422,000 after acquiring an additional 115,111 shares during the last quarter. BlackRock Inc. acquired a new stake in Paylocity in the 2nd quarter valued at about $430,315,000. Finally, Royal Bank of Canada raised its stake in Paylocity by 40.5% in the first quarter. Royal Bank of Canada now owns 134,181 shares of the software maker's stock valued at $14,496,000 after buying an additional 38,697 shares during the period. 94.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PCTY. Jefferies Financial Group reissued a "buy" rating and set a $165.00 price objective on shares of Paylocity in a research report on Wednesday, August 5th. Wall Street Zen cut shares of Paylocity from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. Stephens reduced their target price on shares of Paylocity from $160.00 to $120.00 and set an "equal weight" rating for the company in a research note on Friday, May 8th. Cantor Fitzgerald upped their price objective on Paylocity from $140.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Finally, Raymond James Financial set a $140.00 price objective on Paylocity in a report on Friday, May 8th. Twelve investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.53.

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.

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