Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $520,364.00 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 2,600 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $200.14, for a total transaction of $520,364.00. Following the completion of the transaction, the director now owns 8,332,347 shares of the company’s stock, valued at $1,667,635,928.58. This trade represents a 0.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Paylocity Trading Down 2.2 %

PCTY traded down $4.40 during midday trading on Thursday, reaching $195.07. 241,735 shares of the company’s stock traded hands, compared to its average volume of 483,470. The stock has a market capitalization of $10.87 billion, a price-to-earnings ratio of 49.89, a P/E/G ratio of 4.93 and a beta of 0.92. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $215.68. The firm has a fifty day moving average of $200.05 and a two-hundred day moving average of $169.43. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PCTY shares. Mizuho lifted their price target on Paylocity from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Truist Financial boosted their target price on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Needham & Company LLC increased their price target on shares of Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. StockNews.com raised shares of Paylocity from a “hold” rating to a “buy” rating in a report on Saturday, December 7th. Finally, KeyCorp boosted their price target on shares of Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.71.

Institutional Trading of Paylocity

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in Paylocity by 81.9% in the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock worth $141,303,000 after buying an additional 385,625 shares during the period. Millennium Management LLC raised its position in shares of Paylocity by 435.2% in the 2nd quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock worth $43,676,000 after acquiring an additional 269,354 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Paylocity by 283.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock valued at $51,101,000 after purchasing an additional 229,057 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Paylocity by 1,662.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 181,920 shares of the software maker’s stock valued at $23,986,000 after purchasing an additional 171,597 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Paylocity by 58.3% in the second quarter. Dimensional Fund Advisors LP now owns 335,946 shares of the software maker’s stock worth $44,296,000 after purchasing an additional 123,744 shares during the period. Institutional investors own 94.76% of the company’s stock.

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.