Steven I. Sarowitz Sells 3,083 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 3,083 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $200.73, for a total transaction of $618,850.59. Following the transaction, the director now owns 8,335,347 shares in the company, valued at approximately $1,673,154,203.31. This trade represents a 0.04 % 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

Paylocity stock traded down $0.94 during midday trading on Friday, reaching $199.66. 159,990 shares of the stock were exchanged, compared to its average volume of 485,001. The company’s fifty day moving average is $197.91 and its 200-day moving average is $167.56. The firm has a market cap of $11.13 billion, a PE ratio of 51.06, a PEG ratio of 4.93 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 52 week low of $129.94 and a 52 week high of $215.68.

Hedge Funds Weigh In On Paylocity

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. increased 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 purchasing an additional 165 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Paylocity during the 3rd quarter worth $39,000. Rothschild Investment LLC purchased a new position in Paylocity in the second quarter worth $40,000. Signaturefd LLC increased its stake in Paylocity by 121.0% in the third 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 raised its position in Paylocity by 149.2% during the third quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after purchasing an additional 185 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Truist Financial lifted their target price on shares of Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Mizuho boosted their price objective on Paylocity from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. KeyCorp boosted their price target on shares of Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. BMO Capital Markets lifted their price objective on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, TD Cowen increased their target price on shares of Paylocity from $208.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.