Research firms have recently modified their ratings and price targets for Paylocity (NASDAQ: PCTY), a company known for its payroll and human resources solutions. This adjustment comes amid transactions by company insiders, notably the sale of shares by Chief Financial Officer Ryan Glenn.
On November 19, 2023, Glenn sold 1,737 shares of Paylocity stock at an average price of $143.65, bringing the total transaction value to $249,520.05. Following this sale, Glenn now holds 77,229 shares of the company, valued at approximately $11,093,945.85. This transaction represents a 2.20% decrease in Glenn’s ownership stake in the company. Details of the sale were disclosed in a filing with the Securities & Exchange Commission.
Currently, company insiders own 19.40% of Paylocity’s stock, indicating a significant level of internal investment. This insider activity is often seen as a barometer of confidence in the company’s future performance.
Paylocity, headquartered in Arlington Heights, Illinois, provides a range of services beyond payroll and HR functionalities. Their offerings include talent management solutions such as recruiting, onboarding, performance tracking, and learning management.
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As Paylocity navigates the changing landscape of the business world, these ratings adjustments and insider transactions may provide insight into the company’s trajectory and market positioning.
