Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $3,018,220.92 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 15,444 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $195.43, for a total transaction of $3,018,220.92. Following the sale, the director now directly owns 9,272,906 shares in the company, valued at $1,812,204,019.58. This trade represents a 0.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Paylocity Price Performance

NASDAQ:PCTY traded up $3.53 during trading hours on Friday, reaching $205.28. 395,823 shares of the company were exchanged, compared to its average volume of 500,631. The stock’s 50-day moving average is $178.10 and its 200-day moving average is $159.63. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $215.68. The firm has a market cap of $11.44 billion, a PE ratio of 51.60, a price-to-earnings-growth ratio of 4.89 and a beta of 0.93. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. UMB Bank n.a. increased its stake in Paylocity by 1,650.0% during the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after buying an additional 165 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Paylocity in the third quarter worth approximately $39,000. Rothschild Investment LLC purchased a new stake in shares of Paylocity during the second quarter worth approximately $40,000. Signaturefd LLC raised its stake in Paylocity by 121.0% in the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after purchasing an additional 167 shares during the last quarter. Finally, Quarry LP lifted its holdings in Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after purchasing an additional 185 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Needham & Company LLC increased their price objective on Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, October 31st. BTIG Research decreased their price objective on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Piper Sandler increased their price objective on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. KeyCorp boosted their target price on shares of Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $250.00 price target on shares of Paylocity in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $196.64.

About Paylocity

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.