Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 23,243 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 23,243 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $191.00, for a total value of $4,439,413.00. Following the transaction, the director now owns 470,452 shares in the company, valued at $89,856,332. This represents a 4.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Paylocity Stock Performance

NASDAQ PCTY opened at $194.12 on Thursday. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80. The firm has a market capitalization of $10.85 billion, a P/E ratio of 49.77, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94. The stock’s fifty day moving average is $201.57 and its two-hundred day moving average is $192.05. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. On average, research analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Institutional Trading of Paylocity

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Paylocity by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker’s stock worth $803,745,000 after acquiring an additional 46,183 shares during the period. Invesco Ltd. lifted its stake in shares of Paylocity by 31.7% in the 4th quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker’s stock valued at $265,737,000 after purchasing an additional 320,319 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Paylocity by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 1,073,988 shares of the software maker’s stock worth $214,275,000 after purchasing an additional 25,182 shares during the period. JPMorgan Chase & Co. increased its position in shares of Paylocity by 0.8% during the 4th quarter. JPMorgan Chase & Co. now owns 863,787 shares of the software maker’s stock worth $172,300,000 after purchasing an additional 7,251 shares during the last quarter. Finally, FMR LLC raised its holdings in Paylocity by 138.5% in the 4th quarter. FMR LLC now owns 650,599 shares of the software maker’s stock valued at $129,775,000 after buying an additional 377,835 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PCTY shares. Stifel Nicolaus increased their target price on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Needham & Company LLC increased their price objective on shares of Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 7th. Barclays boosted their target price on shares of Paylocity from $214.00 to $231.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Citigroup raised shares of Paylocity from a “neutral” rating to a “buy” rating and raised their price target for the company from $214.00 to $231.00 in a research note on Thursday, January 16th. Finally, Raymond James reiterated an “outperform” rating and set a $265.00 price objective (up from $215.00) on shares of Paylocity in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Paylocity currently has an average rating of “Moderate Buy” and a consensus price target of $233.25.

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.