Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $2,782,836.81 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 13,689 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $203.29, for a total value of $2,782,836.81. Following the sale, the director now owns 8,385,954 shares in the company, valued at approximately $1,704,780,588.66. This represents a 0.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Paylocity Price Performance

PCTY traded down $4.42 during trading on Friday, reaching $200.17. The stock had a trading volume of 364,220 shares, compared to its average volume of 491,053. The stock has a market cap of $11.16 billion, a PE ratio of 52.32, a PEG ratio of 5.00 and a beta of 0.92. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $215.68. The business has a 50-day moving average of $191.37 and a 200-day moving average of $163.69.

Institutional Trading of Paylocity

A number of institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in Paylocity by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock worth $173,053,000 after buying an additional 36,590 shares during the period. Liontrust Investment Partners LLP lifted its holdings in shares of Paylocity by 27.1% during the second quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock valued at $106,840,000 after purchasing an additional 172,807 shares during the last quarter. Van Berkom & Associates Inc. lifted its holdings in shares of Paylocity by 20.5% during the second quarter. Van Berkom & Associates Inc. now owns 579,801 shares of the software maker’s stock valued at $76,447,000 after purchasing an additional 98,478 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Paylocity by 3.5% during the third quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker’s stock valued at $85,444,000 after purchasing an additional 17,560 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Paylocity by 4.7% during the second quarter. Bank of New York Mellon Corp now owns 472,686 shares of the software maker’s stock valued at $62,324,000 after purchasing an additional 21,127 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on PCTY. Mizuho increased their target price on Paylocity from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday. TD Cowen increased their target price on Paylocity from $208.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday. Jefferies Financial Group increased their target price on Paylocity from $215.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday. KeyCorp increased their target price on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Truist Financial increased their price objective on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. 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 company currently has a consensus rating of “Moderate Buy” and an average price target of $205.71.

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.