Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz Sells 2,900 Shares

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 2,900 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $208.59, for a total value of $604,911.00. Following the completion of the sale, the director now owns 8,945,315 shares of the company’s stock, valued at $1,865,903,255.85. The trade was a 0.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Paylocity Trading Up 1.0 %

Shares of NASDAQ:PCTY opened at $209.71 on Thursday. The company has a market cap of $11.69 billion, a P/E ratio of 53.63, a PEG ratio of 5.11 and a beta of 0.92. 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 $215.68. The stock’s fifty day moving average price is $186.61 and its 200-day moving average price is $162.09.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. UMB Bank n.a. lifted its holdings in shares of Paylocity by 1,650.0% during the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after purchasing an additional 165 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Paylocity in the third quarter valued at about $39,000. Rothschild Investment LLC bought a new position in Paylocity in the second quarter valued at about $40,000. Signaturefd LLC lifted its holdings 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 period. Finally, Quarry LP lifted its holdings in Paylocity by 149.2% in the third quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after acquiring an additional 185 shares during the period. 94.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Truist Financial boosted their target price on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Jefferies Financial Group boosted their target price on Paylocity from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. StockNews.com cut Paylocity from a “buy” rating to a “hold” rating in a research note on Friday, November 29th. KeyCorp boosted their target price on Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, BMO Capital Markets boosted their target price on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Paylocity presently has an average rating of “Moderate Buy” and a consensus price target of $196.64.

About Paylocity

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.