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 firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $208.17, for a total transaction of $603,693.00. Following the sale, the director now owns 9,211,215 shares in the company, valued at $1,917,498,626.55. The trade was a 0.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Paylocity Trading Down 0.9 %

Shares of Paylocity stock opened at $207.57 on Wednesday. The firm’s 50-day moving average price is $185.65 and its 200 day moving average price is $161.75. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $215.68. 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 firm has a market capitalization of $11.57 billion, a PE ratio of 53.09, a P/E/G ratio of 5.16 and a beta of 0.92.

Institutional Investors Weigh In On Paylocity

A number of large investors have recently modified their holdings of the business. CIBC Asset Management Inc raised its position in shares of Paylocity by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker’s stock valued at $273,000 after buying an additional 58 shares during the period. Chicago Partners Investment Group LLC increased its position in shares of Paylocity by 3.7% during the third quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker’s stock worth $395,000 after acquiring an additional 82 shares during the period. Covestor Ltd raised its position in Paylocity by 6.4% in 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 in the last quarter. King Luther Capital Management Corp increased its position in shares of Paylocity by 1.0% in the 2nd quarter. King Luther Capital Management Corp now owns 9,981 shares of the software maker’s stock valued at $1,316,000 after purchasing an additional 103 shares during the last quarter. Finally, SkyOak Wealth LLC boosted its position in shares of Paylocity by 7.1% during the 2nd quarter. SkyOak Wealth LLC now owns 1,837 shares of the software maker’s stock worth $242,000 after acquiring an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Truist Financial raised their price target on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 1st. Needham & Company LLC boosted their price target on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Piper Sandler increased their price objective on shares of Paylocity from $172.00 to $212.00 and gave the company an “overweight” 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 stock an “equal weight” rating in a report on Thursday, October 31st. Finally, Mizuho increased their price target on shares of Paylocity from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $196.64.

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.