Paylocity director Jeffrey Diehl sells shares worth $947,305 By Investing.com
Jeffrey T. Diehl, director at Paylocity (NASDAQ:) Holding Corp (NASDAQ:PCTY), recently sold about $947,305 worth of company stock, according to a filing with the Securities and Exchange Commission. The transaction took place on November 25, 2024, with shares trading at prices ranging from $209.17 to $210.77. The sale comes as Paylocity shares trade near a 52-week high of $215.68, delivering an impressive 39.77% return over the past six months. According to InvestingPro, the company maintains strong financial health with a GREAT rating.
The shares were sold through multiple transactions through various funds managed by Adams Street Partners, LLC, in which Diehl is a partner. These funds include Adams Street 2006 Direct Fund LP, Adams Street 2007 Direct Fund LP, Adams Street 2008 Direct Fund LP, Adams Street 2009 Direct Fund LP, Adams Street 2010 Direct Fund LP, Adams Street 2011 Direct Fund LP, Adams Street Direct Fund 2012 Direct Fund LP, and Adams Street Co-Investment Fund II, LP
Following this transaction, funds have adjusted their holdings in Paylocity, with some funds now holding no shares, while others retain a reduced number of shares. This series of sales reflects the adjustment of portfolio shares held by Adams Street Partners.
In other recent news, Paylocity Holding Corporation reported impressive financial results for the first quarter of the 2025 fiscal year. The company’s total revenue reached $363 million, marking 14.3% year-over-year growth. This significant increase is due to continuous innovation and a unique value proposition in the human capital management (HCM) market. Notably, Paylocity raised its full-year revenue guidance following the strategic acquisition of Airbase and the launch of its AI assistant.
This latest development includes a 14.2% increase in recurring and other income, as well as a 74% adjusted gross profit and a 35.5% adjusted EBITDA margin. From the company’s point of view, Paylocity projects its fiscal year 2025 recurring and other revenue to be between $1.427 and $1.442 billion, with a continued focus on product innovation and platform integration.
In addition, the company expressed great confidence about the macroeconomic environment and labor levels. Paylocity’s recent success selling to large businesses with 150+ employees and the expected support from Airbase’s acquisition of its expansion market were highlighted. Finally, the effectiveness of Paylocity’s new AI assistant in simplifying HR tasks was noted by President and CEO Toby Williams.
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