The cluster is too small in dollar terms to signal anything about the business. Monitor for any C-suite selling or a material increase in director sale volume above 0.1% of market cap, which would warrant attention. The strong analyst consensus and prior neutral reports' positive drift suggest no near-term catalyst from this filing.
Price Chart
Executive Summary
Three directors at Paylocity sold a total of $811K in open-market sales over a two-day window, with director and 10% owner Sarowitz Steven I accounting for the majority of the volume. The cluster is entirely director-level, with no C-suite participation, and the total value represents roughly 0.01% of the $8.3B market cap — well below the 0.1% threshold for materiality. The sales are likely routine portfolio diversification or tax-related, not an informed bearish signal, especially given the strong analyst consensus (85% bullish) and the company's positive historical performance pattern for neutral reports.
Key Financial Metrics
Key Facts
- Three directors sold a combined $811K in open-market sales over Aug 27-28, 2026.
- Director/10% owner Sarowitz Steven I sold ~$3.9M across multiple trades, but only $811K falls within the 7-day cluster window.
- No C-suite executives (CEO, CFO, etc.) participated in the cluster.
- Total cluster value is ~0.01% of PCTY's $8.3B market cap — trivial and routine.
- 85% of analysts rate the stock as Buy or Strong Buy.
Financial Impact
Total insider sales of $811K represent ~0.01% of market cap — immaterial.
Risk Factors
- If director selling accelerates to >0.5% of market cap in a future cluster, it could signal waning confidence.
- No C-suite participation means this cluster lacks the predictive power of an informed insider sell signal.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-PCTY-1788332887670 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | Insider Cluster | $176.46 | awaiting T+1 | — | $176.46 (+0.00%) |
Oct 23, 2026 3d ago | Institutional Cluster | $177.19 $176.46 | ▼ −0.41% | ▼ −1.12% | $176.46 (−0.41%) |
Oct 22, 2026 4d ago | DEFA14A / DEF 14A | $177.67 $177.19 | ▼ −0.27% | ▲ +0.25% | $176.46 (−0.68%) |
Oct 22, 2026 5d ago | Insider Cluster | $177.19 $176.46 | ▲ +0.41% | ▲ +1.12% | $176.46 (+0.41%) |
Oct 21, 2026 5d ago | Insider Cluster | $177.67 $177.19 | ▲ +0.27% | ▼ −0.25% | $176.46 (+0.68%) |
Oct 19, 2026 8d ago | Insider Cluster | $170.06 $169.33 | ▲ +0.43% | ▲ +0.95% | $176.46 (−3.76%) |
Oct 16, 2026 10d ago | Insider Cluster | $166.17 $170.06 | ▲ +2.34% | ▲ +2.01% | $176.46 (+6.19%) |
Sep 10, 2026 6w ago | Press Release | $142.86 $141.66 | ▼ −0.84% | ▼ −1.69% | $176.46 (+23.52%) |
Sep 9, 2026 6w ago | Insider Cluster | $142.86 $141.66 | ▼ −0.84% | ▼ −1.69% | $176.46 (+23.52%) |
Sep 1, 2026 7w ago | Insider Cluster | $154.29 $154.29 | · 0.00% | ▼ −1.05% | $176.46 (+14.37%) |
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