Paylocity (NASDAQ:PCTY) Shares Unloaded Rep. Robert Bresnahan, Jr.

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Paylocity Holding Co. NASDAQ: PCTY. In a filing disclosed on February 13th, the Representative disclosed that they had sold between $1,001 and $15,000 in Paylocity stock on January 13th. The trade occurred in the Representative's "JOINT OWNERSHIP LPL ACCOUNT" account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $15,001 - $50,000 in shares of Lowe's Companies NYSE: LOW on 2/7/2025.
• Purchased $1,001 - $15,000 in shares of ServiceNow NYSE: NOW on 2/3/2025.
• Purchased $1,001 - $15,000 in shares of Take-Two Interactive Software NASDAQ: TTWO on 2/3/2025.
• Purchased $1,001 - $15,000 in shares of Intel NASDAQ: INTC on 2/3/2025.
• Purchased $1,001 - $15,000 in shares of Alibaba Group NYSE: BABA on 1/30/2025.
• Sold $1,001 - $15,000 in shares of Microsoft NASDAQ: MSFT on 1/30/2025.
• Sold $1,001 - $15,000 in shares of Robinhood Markets NASDAQ: HOOD on 1/29/2025.
• Sold $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 1/29/2025.
• Sold $1,001 - $15,000 in shares of Manhattan Associates NASDAQ: MANH on 1/29/2025.
• Sold $1,001 - $15,000 in shares of Credo Technology Group NASDAQ: CRDO on 1/29/2025.

Paylocity Stock Performance

PCTY traded down $5.18 on Wednesday, hitting $212.68. 458,786 shares of the company's stock were exchanged, compared to its average volume of 514,778. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. The stock has a fifty day moving average of $202.69 and a two-hundred day moving average of $185.10. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $223.80. The firm has a market cap of $11.89 billion, a PE ratio of 54.53, a P/E/G ratio of 4.72 and a beta of 0.95.

Remove Ads

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing analysts' consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. On average, research analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. increased its stake in Paylocity by 1,650.0% during the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker's stock worth $29,000 after purchasing an additional 165 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Paylocity during the fourth quarter worth $29,000. Prospera Private Wealth LLC acquired a new stake in shares of Paylocity during the third quarter worth $39,000. Signaturefd LLC raised its holdings in shares of Paylocity by 121.0% during the third quarter. Signaturefd LLC now owns 305 shares of the software maker's stock worth $50,000 after acquiring an additional 167 shares during the period. Finally, Quarry LP boosted its stake in Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker's stock worth $51,000 after purchasing an additional 185 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Raymond James reiterated an "outperform" rating and issued a $265.00 price objective (up from $215.00) on shares of Paylocity in a report on Friday, February 7th. Needham & Company LLC upped their target price on Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. JMP Securities upped their price objective on Paylocity from $250.00 to $270.00 and gave the company a "market outperform" rating in a report on Friday, February 7th. Piper Sandler reaffirmed an "overweight" rating and set a $254.00 target price (up from $212.00) on shares of Paylocity in a report on Thursday, February 6th. Finally, TD Cowen dropped their price target on shares of Paylocity from $235.00 to $228.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Paylocity has a consensus rating of "Moderate Buy" and an average price target of $233.25.

Insiders Place Their Bets

In other news, Director Steven I. Sarowitz sold 10,237 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $210.10, for a total transaction of $2,150,793.70. Following the completion of the transaction, the director now directly owns 9,214,115 shares in the company, valued at $1,935,885,561.50. This represents a 0.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Ryan Glenn sold 2,600 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $205.40, for a total value of $534,040.00. Following the sale, the chief financial officer now owns 48,150 shares in the company, valued at approximately $9,890,010. This represents a 5.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 98,305 shares of company stock worth $20,130,202. Corporate insiders own 21.91% of the company's stock.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election. Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

About Paylocity

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.