Ronald V. Waters (NYSE:WAT), a director at Paylocity (NASDAQ:PCTY) Holding Corp (NASDAQ:PCTY), recently sold shares of the company worth approximately $188,806. The transaction, which took place on November 11, involved the sale of 888 shares of common stock at an average price of $212.62 per share. Following this sale, Waters holds 8,172 shares in the company. The shares were sold in multiple transactions, with prices ranging from $212.45 to $212.70.
In other recent news, Paylocity Holding reported impressive first-quarter results, showcasing a 14% revenue growth and higher-than-anticipated EBITDA margins. Following these results, the company revised its top-line forecast for fiscal year 2025 upwards by $22 million. Paylocity's performance has led to several analyst upgrades. Needham reaffirmed its Buy rating, citing positive feedback from Paylocity's customers and its competitive pricing. Similarly, BMO Capital and Piper Sandler maintained their positive ratings, raising their price targets to $203 and $212 respectively.
In addition, Jefferies upgraded Paylocity stock from Hold to Buy, setting a new price target of $200.00. These upgrades and positive ratings reflect the confidence analysts have in Paylocity's continued performance and future prospects. The acquisition of Airbase, a spend management platform, is expected to enhance Paylocity's product offerings and potentially drive further growth. This acquisition, coupled with the company's strong operational capabilities, has bolstered analysts' confidence in Paylocity's prospects. These are the recent developments for Paylocity.
InvestingPro Insights
Paylocity Holding Corp (NASDAQ:PCTY) has been experiencing significant growth and market performance, as evidenced by recent InvestingPro data. The company's market capitalization stands at $11.79 billion, reflecting its substantial presence in the payroll and human capital management software sector.
InvestingPro data shows that Paylocity's revenue growth remains robust, with a 16.87% increase over the last twelve months as of Q1 2025, reaching $1.45 billion. This growth is complemented by a strong gross profit margin of 68.67%, indicating efficient cost management and pricing power.
The company's stock has shown impressive momentum, with a 47.41% price total return over the past year. This performance aligns with an InvestingPro Tip suggesting that Paylocity's stock price is near its 52-week high, currently at 98.04% of that peak.
Another relevant InvestingPro Tip highlights that analysts have recently revised their earnings estimates upwards for Paylocity. This positive sentiment could be influencing insider trading decisions, such as the recent sale by director Ronald V. Waters.
For investors seeking a deeper understanding of Paylocity's financial health and market position, InvestingPro offers additional tips and metrics. In fact, there are 13 more InvestingPro Tips available for Paylocity, providing a comprehensive view of the company's prospects and potential risks.
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