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Steven I. Sarowitz, a director and significant shareholder of Paylocity (NASDAQ:PCTY) Holding Corp (NASDAQ:PCTY), a $10.94 billion market cap company with impressive gross profit margins of 68.67%, recently sold shares worth approximately $2.33 million. According to InvestingPro analysis, Paylocity maintains a "GREAT" financial health score, supported by strong revenue growth of 16.87% over the last twelve months. The transactions, conducted on December 17, were part of a pre-arranged trading plan. Sarowitz sold a total of 11,473 shares at prices ranging from $201.20 to $205.00 per share. Following these sales, Sarowitz retains ownership of 8,344,545 shares directly and 520,000 shares indirectly through the Jessica P. Sarowitz Declaration of Trust. Want deeper insights into insider trading patterns and their implications? InvestingPro subscribers get access to comprehensive insider transaction analysis and 15+ additional ProTips for PCTY.
In other recent news, Paylocity Holding Corporation reported strong Q1 FY2025 results, posting total revenue of $363 million, a 14.3% increase year-over-year. The company also raised its full-year revenue guidance for FY2025 to between $1.427 and $1.442 billion, following the integration of Airbase and the launch of its AI Assistant. BMO Capital Markets and TD Cowen both adjusted their outlook on Paylocity, with BMO raising its price target from $203 to $240 and reiterating an Outperform rating, while TD Cowen increased its price target from $208 to $235, maintaining a Buy rating. Both firms' adjustments reflect confidence in Paylocity's positioning and growth outlook. In other company news, Paylocity recently held its annual meeting, confirming the election of its board of directors and ratifying KPMG LLP as its independent registered public accounting firm for the fiscal year ending June 30, 2025. These recent developments underscore Paylocity's commitment to strong corporate governance and financial oversight.
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