Several research firms have revised their ratings and price targets for Paylocity (NASDAQ: PCTY), reflecting ongoing changes in the market. This week, the company’s Chief Financial Officer, Ryan Glenn, sold 1,737 shares of Paylocity stock in a transaction valued at approximately $249,520. This sale occurred on November 19, 2023, with the shares sold at an average price of $143.65 each.
Following this transaction, Glenn’s ownership in Paylocity decreased by 2.20%, leaving him with 77,229 shares, which are currently valued at around $11,093,945.85. The details of the sale were disclosed in a document submitted to the Securities and Exchange Commission, which is accessible for further review.
In terms of insider ownership, it is noteworthy that approximately 19.40% of Paylocity’s stock is held by company insiders. This insider activity may indicate a strategic repositioning within the company, which provides both payroll and human resources solutions, as well as talent management services including recruiting, onboarding, performance tracking, and learning management.
Market Analysts Adjust Paylocity Ratings
The adjustments in ratings from various research firms often reflect broader market trends and company performance assessments. Investors and stakeholders in Paylocity may find these updates significant as they evaluate the company’s potential for growth and stability in the competitive landscape of HR technology.
For those interested in staying informed about Paylocity and similar companies, MarketBeat offers a free daily email newsletter that summarizes the latest news and analyst ratings related to Paylocity Holding Corporation. This resource can help investors make informed decisions based on up-to-date financial information.
The recent insider trading activity, combined with market analysts’ updates, provides a snapshot of the current sentiment surrounding Paylocity. As the company continues to evolve in its service offerings, stakeholders will be closely monitoring both market reactions and insider movements in the coming weeks.
