Paylocity Holding Co. (NASDAQ:PCTY) Director Jeffrey T. Diehl Sells 29,606 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Jeffrey T. Diehl sold 29,606 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $196.55, for a total value of $5,819,059.30. Following the completion of the transaction, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $2,310,445.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Paylocity Price Performance

PCTY opened at $210.71 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $213.98. The stock’s 50 day simple moving average is $169.01 and its 200 day simple moving average is $156.37. The firm has a market cap of $11.75 billion, a price-to-earnings ratio of 53.89, a PEG ratio of 4.63 and a beta of 0.93.

Analysts Set New Price Targets

Several research analysts have weighed in on PCTY shares. StockNews.com raised Paylocity from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Mizuho boosted their price target on shares of Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday. BMO Capital Markets raised their price objective on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Jefferies Financial Group lifted their price objective on shares of Paylocity from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Piper Sandler increased their target price on shares of Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Paylocity currently has a consensus rating of “Moderate Buy” and an average price target of $196.64.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. CIBC Asset Management Inc grew its holdings in Paylocity by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker’s stock worth $273,000 after acquiring an additional 58 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of Paylocity by 3.7% in the third quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker’s stock worth $395,000 after purchasing an additional 82 shares during the last quarter. Covestor Ltd increased its holdings in Paylocity by 6.4% during the 3rd quarter. Covestor Ltd now owns 1,373 shares of the software maker’s stock valued at $227,000 after purchasing an additional 83 shares during the period. Daiwa Securities Group Inc. raised its position in Paylocity by 3.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 2,900 shares of the software maker’s stock valued at $498,000 after purchasing an additional 100 shares during the last quarter. Finally, King Luther Capital Management Corp lifted its holdings in Paylocity by 1.0% in the 2nd quarter. King Luther Capital Management Corp now owns 9,981 shares of the software maker’s stock worth $1,316,000 after buying an additional 103 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

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.