The concentrated two-day selling by both the Executive Chairman and a 10% Owner without disclosed 10b5-1 plans is notable. Monitor for any upcoming earnings pre-announcement or material news that could explain the urgency. If the selling continues into next week, it would amplify the bearish signal.
Price Chart
Executive Summary
Executive Chairman Steven Beauchamp and Director/10% Owner Steven Sarowitz sold a combined $5.4M in open-market shares on October 15-16, 2026. The sales are material relative to market cap and not clearly plan-driven, signaling potential insider caution ahead of the next earnings cycle.
Key Financial Metrics
Key Facts
- Executive Chairman Beauchamp sold 15,000 shares total (~$2.48M) on Oct 15 across six open-market trades
- Director/10% Owner Sarowitz sold 17,694 shares total (~$2.93M) on Oct 15-16 across three open-market trades
- Combined open-market sales of ~$5.4M represent approximately 0.2% of PCTY's ~$2.7B market cap
- No 10b5-1 plan indication was noted for any of the trades
- Sales occurred in a concentrated two-day window, not a regular pattern
Financial Impact
Total insider sales of ~$5.4M, representing ~0.2% of market cap
Risk Factors
- Insiders may be selling for personal diversification or tax planning, not due to negative outlook
- The cluster is relatively small as a percentage of market cap (0.2%), limiting the bearish signal strength
- No recent company filings (earnings, guidance, 8-K) were provided to contextualize the timing
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-PCTY-1792472577426 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 2d ago | Institutional Cluster | $176.69 | awaiting T+1 | — | $177.19 (+0.28%) |
Oct 22, 2026 3d ago | DEFA14A / DEF 14A | $177.67 $177.19 | ▼ −0.27% | ▲ +0.25% | $177.19 (−0.27%) |
Oct 22, 2026 4d ago | Insider Cluster | $177.94 | awaiting T+1 | — | $177.19 (+0.42%) |
Oct 21, 2026 4d ago | Insider Cluster | $177.67 $177.19 | ▲ +0.27% | ▼ −0.25% | $177.19 (+0.27%) |
Oct 19, 2026 7d ago | Insider Cluster | $170.06 $169.33 | ▲ +0.43% | ▲ +0.95% | $177.19 (−4.19%) |
Oct 16, 2026 9d ago | Insider Cluster | $166.17 $170.06 | ▲ +2.34% | ▲ +2.01% | $177.19 (+6.63%) |
Sep 10, 2026 6w ago | Press Release | $142.86 $141.66 | ▼ −0.84% | ▼ −1.69% | $177.19 (+24.03%) |
Sep 9, 2026 6w ago | Insider Cluster | $142.86 $141.66 | ▼ −0.84% | ▼ −1.69% | $177.19 (+24.03%) |
Sep 1, 2026 7w ago | Insider Cluster | $154.29 $154.29 | · 0.00% | ▼ −1.05% | $177.19 (+14.84%) |
Sep 1, 2026 7w ago | Insider Cluster | $154.29 $154.29 | · 0.00% | ▼ −1.05% | $177.19 (+14.84%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers