Paylocity director Steven Sarowitz sells $3.6 million in shares

Published 14/05/2025, 21:14
Paylocity director Steven Sarowitz sells $3.6 million in shares

Paylocity Holding Corp (NASDAQ:PCTY), an $11 billion market cap company with strong financial health according to InvestingPro analysis, saw its director and ten percent owner, Steven I. Sarowitz, execute a series of stock sales earlier this month, totaling approximately $3.6 million. The transactions occurred on May 12 and May 13, 2025, under a pre-established 10b5-1 trading plan.

On May 12, Sarowitz sold 100 shares at $200.54 each. The following day, he sold a larger batch of 16,410 shares at a weighted average price of $200.61, with prices ranging from $200.00 to $201.00. Additionally, he sold another 1,490 shares at a weighted average price of $201.19, with transaction prices ranging from $201.02 to $201.37.

These sales were conducted indirectly through the Jessica P. Sarowitz Declaration of Trust. Following these transactions, Sarowitz retains ownership of 8,330,335 shares directly.

In other recent news, Paylocity Holding Corp. reported its third-quarter earnings for 2025, surpassing Wall Street expectations with an earnings per share (EPS) of $2.43, exceeding the forecasted $2.13. The company’s revenue also outperformed projections, reaching $454.55 million against an anticipated $442 million. Paylocity’s strong performance was supported by a 13% year-over-year revenue increase and a robust adjusted EBITDA of $197.1 million, representing 43.4% of revenue. The company continues to invest in AI and product innovation, contributing to its growth in the mid-market segment. Additionally, Paylocity has been actively integrating Airbase, which has shown positive early signs and is expected to drive future growth. Analysts have noted the company’s strategic focus on product differentiation and market expansion as key factors in its continued success. With a solid financial outlook, Paylocity projects recurring revenue between $1.460 billion and $1.465 billion for the full fiscal year 2025.

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