SoFi CEO enters prepaid forward contract on 1.5 million shares
Steven Sarowitz, a director and significant shareholder of Paylocity Holding Corp (NASDAQ:PCTY), recently sold shares valued at approximately $9.1 million, according to a regulatory filing. The transactions, executed on March 20 and 21, 2025, involved the sale of 47,443 shares of Paylocity common stock. The shares were sold at prices ranging from $190.44 to $192.16 per share. The company, currently valued at $10.95 billion, has demonstrated strong financial performance with impressive gross profit margins of 68.6% and revenue growth of 16% over the last twelve months.
Following these transactions, Sarowitz, through the Jessica P. Sarowitz Declaration of Trust, holds 446,252 shares of Paylocity. These sales were conducted under a pre-established 10b5-1 trading plan adopted in December 2024, designed to allow insiders to sell stocks at predetermined times to avoid any issues with insider trading. According to InvestingPro analysis, Paylocity is currently trading above its Fair Value, with 13 additional key insights available to subscribers through comprehensive Pro Research Reports.
In other recent news, Paylocity Holding Corporation reported mixed results for its second-quarter earnings. The company exceeded revenue expectations with a total of $377 million, surpassing the forecasted $367.01 million, marking a 16% year-over-year increase. However, the earnings per share (EPS) fell short, coming in at $0.66 against an anticipated $1.42. This significant miss in EPS has raised concerns among investors despite the robust revenue growth. The company maintains a strong cash position with $482.4 million in cash and cash equivalents, and a debt of $325 million. Paylocity’s recent product launches include an AI Assistant Chatbot and a Headcount Planning tool, which are part of its strategy to drive future growth. Analysts from firms such as Stifel and Needham have noted the company’s solid sales execution and product differentiation, although no specific upgrades or downgrades were mentioned. Looking forward, Paylocity has increased its fiscal year 2025 guidance, projecting total revenue between $1.558 billion and $1.568 billion, reflecting an 11% year-over-year growth.
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