Paylocity (NASDAQ:PCTY) CFO Sells $249,520.05 in Stock

Paylocity Holding Corporation's CFO, Ryan Glenn, sold 1,737 shares of the company's stock for $249,520.05, reducing his ownership by 2.20%. The transaction was disclosed in an SEC filing. Paylocity's stock has a 12-month range of $135.46 to $223.80, with a market cap of $7.83 billion. Recent earnings exceeded expectations, and analysts have mixed ratings on the stock, with an average price target of $207.83. Institutional investors have been adjusting their holdings in the company.

Paylocity Holding Corporation (NASDAQ:PCTY - Get Free Report) CFO Ryan Glenn sold 1,737 shares of the stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $143.65, for a total value of $249,520.05. Following the sale, the chief financial officer directly owned 77,229 shares in the company, valued at $11,093,945.85. This represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Paylocity Price Performance

3 Payroll Software Makers Set For Growth In 2023

NASDAQ PCTY traded down $0.14 on Thursday, hitting $143.93. The company had a trading volume of 1,108,820 shares, compared to its average volume of 524,618. Paylocity Holding Corporation has a 12-month low of $135.46 and a 12-month high of $223.80. The company's fifty day moving average price is $152.71 and its 200-day moving average price is $173.10. The company has a market capitalization of $7.83 billion, a PE ratio of 36.07, a PEG ratio of 4.34 and a beta of 0.58.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its earnings results on Tuesday, November 4th. The software maker reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.23. Paylocity had a return on equity of 22.07% and a net margin of 13.75%.The business had revenue of $408.17 million for the quarter, compared to analysts' expectations of $399.53 million. During the same period in the previous year, the firm posted $1.66 EPS. The business's revenue for the quarter was up 12.5% compared to the same quarter last year. Paylocity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. On average, sell-side analysts anticipate that Paylocity Holding Corporation will post 4.36 EPS for the current year.

Analysts Set New Price Targets

3 Software Plays Showing Signs of Recovery

Several brokerages have recently issued reports on PCTY. KeyCorp increased their price objective on Paylocity from $220.00 to $225.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Cowen restated a "buy" rating on shares of Paylocity in a research note on Monday, October 6th. Cantor Fitzgerald set a $190.00 price target on shares of Paylocity in a research report on Wednesday, November 5th. UBS Group dropped their price target on shares of Paylocity from $195.00 to $183.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 17th. Finally, Stephens reduced their price target on shares of Paylocity from $200.00 to $170.00 and set an "equal weight" rating for the company in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Paylocity has an average rating of "Moderate Buy" and an average price target of $207.83.

Check Out Our Latest Analysis on Paylocity

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC boosted its stake in Paylocity by 208.4% during the 1st quarter. CWM LLC now owns 1,906 shares of the software maker's stock valued at $357,000 after purchasing an additional 1,288 shares in the last quarter. Choreo LLC raised its position in Paylocity by 17.3% during the first quarter. Choreo LLC now owns 1,600 shares of the software maker's stock valued at $300,000 after buying an additional 236 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Paylocity in the 1st quarter valued at approximately $6,483,000. KLP Kapitalforvaltning AS increased its stake in shares of Paylocity by 16.7% in the first quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the software maker's stock worth $1,967,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in Paylocity by 16.6% in the first quarter. Venturi Wealth Management LLC now owns 1,686 shares of the software maker's stock worth $316,000 after buying an additional 240 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

About Paylocity

(Get Free Report)

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.

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