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Tuesday, June 6, 2023

Are Things Looking Up For Paylocity Holding Corporation (NASDAQ: PCTY)?

After Hours

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. After-hours trades for Paylocity Holding Corporation (PCTY) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$1.13, or -0.60%, to $186.11. The Paylocity Holding Corporation has recorded 26,682 volume in the after hours trading session. Yahoo Finance discussed the stock recently as it posted Paylocity announces Q3 FY23 earnings conference call.

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Stocks Info

The company is listed on the NASDAQ and operates within the Software – Application industry segment. At the end of the last regular session, the stock closed at $187.24 and fluctuated between $192.73 as its day high and $186.38 as its day low. The current market capitalization of Paylocity Holding Corporation is $10.29B. A total of 0.55 million shares were traded on the day, compared to an average of 463.55K shares.

Insider Activity

Furthermore, investors take into consideration insider trades when predicting a stock’s future trajectory. During the recent three months, PCTY has seen 1 BUY and 52 SELL insider trades, representing the acquisition of 13,000 and the disposition of 322,814 shares. Over the last 12 months, there were 21 BUYs and 190 SELLs from insiders. Insiders purchased 315,183 shares during that period but sold 1,701,768.

In the most recent transaction, Glenn Ryan sold 1,250 shares of PCTY for 177.46 per share on Mar 15. After the transaction, the CFO and Treasurer now owns 21,651 company shares. In a previous transaction on Mar 07, Sarowitz Steven I sold 32,689 shares at 187.60 per share. PCTY shares that Director owns now total 10,309,423.

Among the insiders who sold shares, Sarowitz Steven I disposed of 67,311 shares on Mar 06 at a per-share price of $192.05. This resulted in the Director holding 10,342,112 shares of PCTY after the transaction. In another insider transaction, Sarowitz Steven I sold 15,947 shares at $198.14 per share on Feb 24. Company shares held by the Director now total 10,422,423.

It has been observed that price targets are rarely accurate, but they can exert some influence from time to time, and are often accepted as valuable in the market. According to analysts who have offered 12-month price targets for PCTY in the last 3 months, the mean price target is $267.38 with high estimates of $325.00 and low estimates of $214.00. In terms of 52-week highs and lows, PCTY has a high of $276.88 and a low of $152.01.

As of this writing, PCTY has an earnings estimate of $1.53 per share for the current quarter. EPS was calculated based on a consensus of 17 estimates, with a high estimate of $1.78 per share and a lower estimate of $1.39. The company reported an EPS of $0.98 in the last quarter, which was 50.80% higher than expectations of $0.65.

Balance Sheet Annually/Quarterly

An equity investor’s investment can be viewed on a balance sheet by looking at what assets and liabilities the company has. Investors can determine the company’s prospects by calculating its financial ratios based on this information. PCTY’s latest balance sheet shows that the firm has $139.76M in Cash & Short Term Investments as of fiscal 2022. There were $69.12M in debt and $4.12B in liabilities at the time. Its Book Value Per Share was $12.16, while its Total Shareholder’s Equity was $613.46M.

Analysts Opinion

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. Currently, 18 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for PCTY is Underweight with a score of 4.57. A total of 12 analysts rated the stock as Buy while 2 rated it as Overweight while 4 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 0 thought it should be Sold.

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