Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 29,606 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Jeffrey T. Diehl sold 29,606 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $196.55, for a total transaction of $5,819,059.30. Following the transaction, the director now owns 11,755 shares in the company, valued at $2,310,445.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Paylocity Stock Down 1.4 %

Paylocity stock opened at $210.71 on Friday. The firm has a market cap of $11.75 billion, a price-to-earnings ratio of 53.89, a PEG ratio of 4.63 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. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $213.98. The stock has a fifty day simple moving average of $169.01 and a two-hundred day simple moving average of $156.37.

Analysts Set New Price Targets

A number of research analysts have weighed in on PCTY shares. StockNews.com upgraded Paylocity from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Truist Financial increased their price objective on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, November 1st. BTIG Research dropped their target price on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Mizuho increased their price target on shares of Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, BMO Capital Markets boosted their price objective on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $196.64.

Hedge Funds Weigh In On Paylocity

Hedge funds have recently bought and sold shares of the business. CIBC Asset Management Inc raised its holdings in shares of Paylocity by 3.6% during the third quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker’s stock valued at $273,000 after purchasing an additional 58 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in Paylocity by 3.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker’s stock valued at $395,000 after buying an additional 82 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Paylocity by 6.4% during the 3rd quarter. Covestor Ltd now owns 1,373 shares of the software maker’s stock valued at $227,000 after buying an additional 83 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Paylocity by 3.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 2,900 shares of the software maker’s stock worth $498,000 after buying an additional 100 shares during the last quarter. Finally, King Luther Capital Management Corp grew its holdings in shares of Paylocity by 1.0% in the second quarter. King Luther Capital Management Corp now owns 9,981 shares of the software maker’s stock worth $1,316,000 after acquiring an additional 103 shares during the period. 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.