Steven I. Sarowitz, a director and significant shareholder of Paylocity (NASDAQ:PCTY) Holding Corp (NASDAQ:PCTY), sold shares worth approximately $3.93 million over two days, according to a recent SEC filing. The transactions, conducted under a pre-arranged trading plan, involved selling a total of 18,222 shares of common stock at prices ranging from $205.94 to $211.94 per share.
These sales, executed on November 25 and 26, were part of a series of transactions that saw Sarowitz's direct ownership in the company decrease. Following these sales, Sarowitz retains ownership of 9,224,552 shares directly, along with an additional 20,000 shares held indirectly through a trust.
This activity is part of a broader trend of insider transactions at Paylocity, a provider of cloud-based payroll and human capital management software solutions. Investors often monitor such transactions for insights into the company’s prospects, as insider sales can sometimes signal executives' views on the company's future performance.
In other recent news, Paylocity Holding Corporation posted robust Q1 FY2025 results, marking a 14.3% year-over-year growth with total revenue reaching $363 million. This strong performance was attributed to ongoing innovation and a unique value proposition in the human capital management market. The company also raised its full-year revenue guidance following strategic developments including the acquisition of Airbase and the launch of its AI Assistant. In terms of future expectations, Paylocity projects fiscal year 2025 recurring and other revenue to be between $1.427 and $1.442 billion. The company has shown success in selling to larger businesses with 150+ employees, and the Airbase acquisition is anticipated to further support Paylocity's expansion. The new Paylocity AI Assistant has been highlighted for its efficiency in simplifying HR tasks. These are recent developments shaping Paylocity's trajectory in the market.
InvestingPro Insights
Paylocity Holding Corp (NASDAQ:PCTY) has been demonstrating strong financial performance, as reflected in its recent market trends and fundamental metrics. According to InvestingPro data, the company boasts a market capitalization of $11.73 billion and has shown impressive growth with a 31.01% price total return over the last three months.
InvestingPro Tips highlight that Paylocity holds more cash than debt on its balance sheet, indicating a strong financial position. This aligns with the company's ability to generate significant insider transactions, such as the recent sale by director Steven I. Sarowitz.
The company's impressive gross profit margins, another InvestingPro Tip, underscore its operational efficiency. With a gross profit margin of 68.67% for the last twelve months as of Q1 2025, Paylocity demonstrates its ability to maintain profitability while scaling its cloud-based payroll and human capital management solutions.
It's worth noting that Paylocity is trading near its 52-week high, with its current price at 97.32% of the peak. This, coupled with the strong returns over various timeframes, suggests investor confidence in the company's prospects.
For investors seeking a more comprehensive analysis, InvestingPro offers 18 additional tips for Paylocity, providing a deeper understanding of the company's financial health and market position.
Steven I. Sarowitz, a director and significant shareholder of Paylocity Holding Corp (NASDAQ:PCTY), sold shares worth approximately $3.93 million over two days, according to a recent SEC filing. The transactions, conducted under a pre-arranged trading plan, involved selling a total of 18,222 shares of common stock at prices ranging from $205.94 to $211.94 per share.
These sales, executed on November 25 and 26, were part of a series of transactions that saw Sarowitz's direct ownership in the company decrease. Following these sales, Sarowitz retains ownership of 9,224,552 shares directly, along with an additional 20,000 shares held indirectly through a trust.
This activity is part of a broader trend of insider transactions at Paylocity, a provider of cloud-based payroll and human capital management software solutions. Investors often monitor such transactions for insights into the company's prospects, as insider sales can sometimes signal executives' views on the company's future performance.
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