Steven I. Sarowitz Sells 12,226 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 12,226 shares of Paylocity stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $196.29, for a total transaction of $2,399,841.54. Following the sale, the director now owns 9,300,847 shares in the company, valued at approximately $1,825,663,257.63. The trade was a 0.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Paylocity Trading Up 3.3 %

Shares of NASDAQ PCTY opened at $201.75 on Friday. The business’s 50 day moving average price is $177.18 and its 200-day moving average price is $159.34. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $215.68. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market cap of $11.25 billion, a price-to-earnings ratio of 51.60, a PEG ratio of 4.89 and a beta of 0.93.

Analysts Set New Price Targets

PCTY has been the topic of a number of research analyst reports. Barclays boosted their target price on Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and set a $250.00 target price on shares of Paylocity in a research report on Monday, August 5th. BTIG Research reduced their price target on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Truist Financial increased their price objective on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, StockNews.com upgraded shares of Paylocity from a “hold” rating to a “buy” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Paylocity has an average rating of “Moderate Buy” and a consensus target price of $196.64.

Institutional Trading of Paylocity

A number of hedge funds and other institutional investors have recently bought and sold shares of PCTY. UMB Bank n.a. increased its stake in Paylocity by 1,650.0% in 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 during the period. Prospera Private Wealth LLC purchased a new stake in Paylocity in the 3rd quarter valued at about $39,000. Rothschild Investment LLC purchased a new position in shares of Paylocity during the second quarter worth approximately $40,000. Signaturefd LLC raised its stake in shares of Paylocity by 121.0% during the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after acquiring an additional 167 shares in the last quarter. Finally, Quarry LP raised its stake in shares of Paylocity by 149.2% during the third quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after acquiring an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Company Profile

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.