Joshua Scutt Sells 4,730 Shares of Paylocity (NASDAQ:PCTY) Stock

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

Paylocity Stock Performance

Shares of PCTY stock opened at $153.34 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 52 week low of $92.99 and a 52 week high of $182.83. The stock has a market capitalization of $8.14 billion, a PE ratio of 30.98 and a beta of 0.48. The firm has a 50 day moving average of $126.14 and a two-hundred day moving average of $115.25.

Paylocity (NASDAQ:PCTY) last posted 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. The business 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%.The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.56 earnings per share. On average, research analysts predict that Paylocity Holding Corporation will post 6.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PCTY. Zacks Research cut Paylocity from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. KeyCorp upped their target price on shares of Paylocity from $172.00 to $178.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. BTIG Research lifted their price target on shares of Paylocity from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Jefferies Financial Group reiterated a “buy” rating and issued a $165.00 price target on shares of Paylocity in a research note on Wednesday, August 5th. Finally, Citigroup reissued a “buy” rating on shares of Paylocity in a research report on Thursday, August 6th. Twelve investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.53.

Key Stories Impacting Paylocity

Here are the key news stories impacting Paylocity this week:

• Positive Sentiment: TD Cowen raised its price target for Paylocity from $168 to $177 and maintained a “buy” rating, indicating potential upside from the referenced share price. The move signals continued confidence in Paylocity’s growth outlook. Benzinga analyst price-target report
• Positive Sentiment: Paylocity’s 50-day moving average recently moved above its 200-day average, forming a bullish “golden cross.” This technical signal could attract momentum-focused investors and reinforce the stock’s ongoing uptrend. Zacks golden cross analysis
• Positive Sentiment: Recent coverage highlighted the extension of Paylocity’s uptrend after a strong quarterly report. The company reported adjusted earnings of $1.84 per share versus the $1.62 consensus estimate and revenue of $444.7 million versus expectations of $431.5 million, with revenue up 11% year over year. Kalkine Media Paylocity uptrend report
• Neutral Sentiment: CFO Ryan Glenn, SVPs Andrew Cappotelli and Joshua Scutt, and Director Steven I. Sarowitz sold a combined 19,164 shares worth approximately $2.87 million. Because the transactions were executed under pre-arranged Rule 10b5-1 plans, they are a limited signal of near-term pessimism. Sarowitz still owns more than 4.48 million shares, and the other executives retain substantial positions. SEC insider transaction filing

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in Paylocity in the second quarter valued at approximately $430,315,000. Jupiter Topco LLC purchased a new position in Paylocity in the second quarter valued at approximately $70,540,000. Alyeska Investment Group L.P. acquired a new stake in Paylocity during the third quarter worth approximately $104,657,000. Norges Bank acquired a new stake in Paylocity during the fourth quarter worth approximately $88,428,000. Finally, Deutsche Bank AG purchased a new stake in shares of Paylocity during the 2nd quarter worth approximately $54,906,000. Hedge funds and other 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.