Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 3,083 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 3,083 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $200.73, for a total transaction of $618,850.59. Following the sale, the director now directly owns 8,335,347 shares in the company, valued at $1,673,154,203.31. The trade was a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Paylocity Stock Down 0.5 %

Shares of NASDAQ PCTY traded down $0.94 during midday trading on Friday, hitting $199.66. 159,990 shares of the stock traded hands, compared to its average volume of 485,001. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $215.68. The business has a 50 day moving average price of $197.91 and a two-hundred day moving average price of $167.56. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market cap of $11.13 billion, a PE ratio of 51.06, a P/E/G ratio of 4.93 and a beta of 0.92.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PCTY. JPMorgan Chase & Co. increased its position in shares of Paylocity by 81.9% during the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock worth $141,303,000 after acquiring an additional 385,625 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in Paylocity by 3.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 287,264 shares of the software maker’s stock worth $47,389,000 after purchasing an additional 8,878 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Paylocity by 207.0% in the third quarter. Tidal Investments LLC now owns 8,836 shares of the software maker’s stock worth $1,458,000 after purchasing an additional 5,958 shares during the last quarter. Coldstream Capital Management Inc. bought a new position in shares of Paylocity in the third quarter valued at approximately $239,000. Finally, Geode Capital Management LLC boosted its position in shares of Paylocity by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock valued at $173,053,000 after buying an additional 36,590 shares during the last quarter. 94.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on PCTY. Truist Financial boosted their price objective on shares of Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets raised their price objective on Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. KeyCorp raised 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. Barclays upped their price objective on shares of Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC lifted their target price on shares of Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Paylocity currently has a consensus rating of “Moderate Buy” and an average target price of $205.71.

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.