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

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 12,226 shares of Paylocity stock in a transaction dated 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 of the company’s stock, valued at $1,825,663,257.63. The trade was a 0.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Paylocity Stock Performance

NASDAQ PCTY opened at $195.28 on Thursday. 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 stock has a market cap of $10.89 billion, a PE ratio of 49.94, a P/E/G ratio of 4.89 and a beta of 0.93. The firm has a 50-day moving average of $176.43 and a 200-day moving average of $159.08. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $215.68.

Hedge Funds Weigh In On Paylocity

Several hedge funds and other institutional investors have recently made changes to their positions in the company. UMB Bank n.a. increased its position in Paylocity by 1,650.0% during the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after purchasing an additional 165 shares during the period. Prospera Private Wealth LLC acquired a new position in Paylocity during the third quarter worth $39,000. Rothschild Investment LLC bought a new position in Paylocity in the 2nd quarter valued at about $40,000. Signaturefd LLC grew its holdings in Paylocity by 121.0% during the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after buying an additional 167 shares in the last quarter. Finally, Quarry LP grew its stake in shares of Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after acquiring an additional 185 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Piper Sandler raised their target price on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Jefferies Financial Group increased their price target on Paylocity from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. BMO Capital Markets raised their price target on Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Mizuho boosted their target price on Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $250.00 price target on shares of Paylocity in a research note on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $196.64.

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.