Andrew Cappotelli, the Senior Vice President of Paylocity Holding Corporation (NASDAQ: PCTY), sold 69 shares of the company’s stock on December 4, 2023. The shares were sold at an average price of $146.90, resulting in a total transaction amount of $10,136.10. Following this sale, Cappotelli’s ownership in Paylocity decreased to 21,069 shares, valued at approximately $3,095,036.10.
The transaction reflects a 0.33% decrease in Cappotelli’s holdings. This sale was disclosed in a legal filing with the U.S. Securities and Exchange Commission (SEC).
Stock Performance and Financial Overview
On the following trading day, December 5, 2023, Paylocity’s stock opened at $146.52. The company currently boasts a market capitalization of $7.97 billion and maintains a price-to-earnings ratio of 36.72. Paylocity has a low debt-to-equity ratio of 0.07 and both a current and quick ratio of 1.07.
The stock’s performance over the past year has seen significant fluctuations, with a 52-week low of $135.46 and a high of $223.80. The company’s average stock price over the past fifty days is $148.54, while the two-hundred day moving average stands at $169.43.
Paylocity recently reported its quarterly earnings on November 4, 2023. The company achieved an earnings per share (EPS) of $1.75, exceeding analysts’ expectations of $1.52 by $0.23. With a net margin of 13.75% and a return on equity of 22.07%, Paylocity generated revenues of $408.17 million for the quarter, surpassing the consensus estimate of $399.53 million. This marks a 12.5% increase in revenue from the same quarter in the previous year.
Institutional Investment Trends
Recent trends indicate that institutional investors are actively engaging with Paylocity’s stock. Vanguard Group Inc. increased its holdings by 7.0% during the first quarter, acquiring an additional 283,430 shares and bringing its total ownership to 4,312,832 shares worth approximately $807,966,000. Similarly, Price T. Rowe Associates Inc. MD added 141,705 shares to its stake, raising its total to 4,287,514 shares, valued at $803,224,000.
T. Rowe Price Investment Management Inc. and Millennium Management LLC also expanded their positions, with the latter increasing its stake by 97.7% during the third quarter. These transactions highlight a strong interest from institutional investors, who now hold 94.76% of Paylocity’s outstanding stock.
Paylocity Holding Corporation specializes in providing cloud-based human capital management and payroll software solutions. The company’s products include payroll processing, expense management, and time and labor management software, catering to the workforce needs across the United States.
As Paylocity continues to navigate the competitive landscape of software solutions, the recent activities of its executives and institutional investors reflect the ongoing interest and investment in its growth potential.
