Jeffrey Diehl, a director at Paylocity (NASDAQ:PCTY) Holding Corp (NASDAQ:PCTY), has recently sold a significant number of shares in the company. According to a recent SEC filing, Diehl sold shares totaling approximately $6 million. The sales occurred over two days, November 25 and November 26, with transaction prices ranging from $205.71 to $211.54 per share, with the stock trading near its 52-week high of $215.68.
The transactions involved multiple sales of Paylocity common stock, with the largest block consisting of 9,861 shares sold at an average price of $210.69, amounting to over $2 million. Other significant transactions included sales of 8,361 shares at $211.54 and 2,992 shares at $209.77.
These shares were held indirectly by various funds managed by Adams Street Partners, LLC, where Diehl is a partner. Following these transactions, the shares are reported to be held directly by Diehl, as indicated in the SEC filing.
Investors and analysts often monitor such transactions to gauge insider sentiment, as they can offer insights into a company's future performance.
In other recent news, Paylocity Holding Corporation reported strong financial results for the first quarter of fiscal year 2025, with total revenue reaching $363 million, marking a 14.3% year-over-year growth. Following the acquisition of Airbase and the launch of its AI Assistant, Paylocity raised its full-year revenue guidance. The company's adjusted gross profit improved to 74%, while the adjusted EBITDA margin stood at 35.5%. Notably, more than 25% of new business was generated through referral channels. Recent developments also include the company's success in selling to larger businesses with 150+ employees and a positive market reaction to the Airbase acquisition. The company's executives expressed confidence in their modern software offerings and the efficiency of the new Paylocity AI Assistant. These are recent developments that underline the company's strong growth and strategic advancements.
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