Steven I. Sarowitz Sells 11,306 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 11,306 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $204.07, for a total transaction of $2,307,215.42. Following the transaction, the director now owns 9,243,074 shares in the company, valued at approximately $1,886,234,111.18. This trade represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Paylocity Price Performance

Shares of NASDAQ PCTY traded up $1.77 during mid-day trading on Tuesday, reaching $211.88. The company’s stock had a trading volume of 312,475 shares, compared to its average volume of 499,204. The firm has a market capitalization of $11.81 billion, a PE ratio of 53.74, a P/E/G ratio of 5.05 and a beta of 0.93. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a fifty day moving average of $180.08 and a two-hundred day moving average of $160.07. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $215.68.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PCTY shares. 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 note on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $250.00 price objective on shares of Paylocity in a research note on Monday, August 5th. BTIG Research cut 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 upped their price objective on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Mizuho lifted their target price on shares of Paylocity from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $196.64.

Institutional Investors Weigh In On Paylocity

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its stake in shares of Paylocity by 435.2% during the second quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock valued at $43,676,000 after buying an additional 269,354 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Paylocity by 283.8% during 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 acquiring an additional 229,057 shares in the last quarter. Liontrust Investment Partners LLP boosted its position in Paylocity by 27.1% during the 2nd quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock valued at $106,840,000 after acquiring an additional 172,807 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Paylocity by 1,662.3% during the 2nd 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 during the last quarter. Finally, Swedbank AB purchased a new stake in shares of Paylocity during the 1st quarter valued at $25,848,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

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.