Andrew Cappotelli, Senior Vice President of Paylocity Holding Corporation (NASDAQ: PCTY), sold 69 shares of the company on December 4, 2023. The shares were sold at an average price of $146.90, resulting in a total transaction value of $10,136.10. Following this sale, Cappotelli retains ownership of 21,069 shares, which are now valued at approximately $3,095,036.10.
The transaction represents a slight decrease of 0.33% in Cappotelli’s position within the company. This sale was disclosed in a legal filing with the U.S. Securities and Exchange Commission (SEC), ensuring compliance with regulatory requirements.
Paylocity Stock Performance
On the following trading day, December 5, shares of Paylocity opened at $146.52. The company currently boasts a market capitalization of $7.97 billion and maintains a debt-to-equity ratio of 0.07. Paylocity’s stock performance metrics include a price-to-earnings ratio of 36.72 and a price-to-earnings-growth ratio of 4.34. The stock has exhibited volatility, with a 52-week low of $135.46 and a high of $223.80.
Recently, the company reported impressive quarterly earnings. For the quarter ending on November 4, 2023, Paylocity posted earnings per share (EPS) of $1.75, surpassing analyst expectations by $0.23. This performance reflects a net margin of 13.75% and a return on equity of 22.07%. Revenue for the quarter reached $408.17 million, exceeding the consensus estimate of $399.53 million and marking a year-over-year increase of 12.5%.
Institutional Investment Trends
Institutional investors have been active in the market for Paylocity shares. Notably, Vanguard Group Inc. increased its holdings by 7.0% during the first quarter, now owning 4,312,832 shares valued at approximately $807.97 million. Similarly, Price T Rowe Associates Inc. raised its stake by 3.4%, owning 4,287,514 shares worth around $803.22 million.
Additionally, Millennium Management LLC significantly increased its position by 97.7% in the third quarter, now holding 748,803 shares valued at $119.26 million. Overall, institutional investors and hedge funds own 94.76% of Paylocity’s stock, indicating strong confidence in the company’s future prospects.
Paylocity continues to be a key player in the field of cloud-based human capital management and payroll software solutions in the United States. The company provides a range of services, including payroll software for global operations, expense management, tax services, and time management solutions, to help businesses effectively manage their workforce.
