Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 12,226 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 12,226 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $196.29, for a total value of $2,399,841.54. Following the transaction, the director now owns 9,300,847 shares in the company, valued at $1,825,663,257.63. This trade represents a 0.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Paylocity Stock Performance

NASDAQ:PCTY opened at $205.28 on Friday. The company’s 50-day moving average is $178.10 and its two-hundred day moving average is $159.63. The firm has a market capitalization of $11.44 billion, a price-to-earnings ratio of 52.50, a PEG ratio of 4.89 and a beta of 0.93. 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.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PCTY. Price T Rowe Associates Inc. MD raised its position in Paylocity by 3.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock valued at $1,518,176,000 after purchasing an additional 278,607 shares during the period. Capital Research Global Investors purchased a new stake in Paylocity in the 1st quarter valued at about $46,902,000. Millennium Management LLC boosted its stake in Paylocity by 435.2% during the second quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock worth $43,676,000 after buying an additional 269,354 shares during the period. Point72 Asset Management L.P. increased its position in shares of Paylocity by 283.8% during the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock valued at $51,101,000 after acquiring an additional 229,057 shares during the last quarter. Finally, Liontrust Investment Partners LLP raised its stake in shares of Paylocity by 27.1% in the 2nd quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock valued at $106,840,000 after acquiring an additional 172,807 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. BMO Capital Markets increased their price objective on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Needham & Company LLC boosted their price objective on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Piper Sandler raised their target price on Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Mizuho boosted their price target on Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, BTIG Research decreased their price objective on Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus 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.