Steven I. Sarowitz Sells 2,900 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 2,900 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $208.59, for a total value of $604,911.00. Following the completion of the transaction, the director now owns 8,945,315 shares of the company’s stock, valued at $1,865,903,255.85. This trade represents a 0.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $203.84 on Friday. The company has a 50 day moving average of $187.43 and a 200 day moving average of $162.38. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. The stock has a market cap of $11.36 billion, a P/E ratio of 52.13, a P/E/G ratio of 5.11 and a beta of 0.92. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $215.68.

Analysts Set New Price Targets

PCTY has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their price target on shares of Paylocity from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays boosted their target price on shares of Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. StockNews.com cut shares of Paylocity from a “buy” rating to a “hold” rating in a report on Friday, November 29th. Needham & Company LLC increased their price objective on Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, BMO Capital Markets boosted their target price on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $196.64.

Institutional Inflows and Outflows

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