Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 946 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Jeffrey T. Diehl sold 946 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $204.74, for a total value of $193,684.04. Following the completion of the transaction, the director now owns 1,767 shares in the company, valued at $361,775.58. The trade was a 34.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Paylocity Stock Performance

Shares of Paylocity stock opened at $195.28 on Thursday. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $215.68. The company has a market capitalization of $10.89 billion, a PE ratio of 49.94, a P/E/G ratio of 4.89 and a beta of 0.93. 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 50-day simple moving average of $176.43 and a two-hundred day simple moving average of $159.08.

Hedge Funds Weigh In On Paylocity

A number of large investors have recently made changes to their positions in the business. CIBC Asset Management Inc boosted its holdings in Paylocity by 3.6% in the third 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 in the last quarter. Chicago Partners Investment Group LLC lifted its stake 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 buying an additional 82 shares during the period. Covestor Ltd increased its position in shares of 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 acquiring an additional 83 shares during the period. King Luther Capital Management Corp lifted its position in Paylocity by 1.0% during the 2nd quarter. King Luther Capital Management Corp now owns 9,981 shares of the software maker’s stock worth $1,316,000 after acquiring an additional 103 shares during the period. Finally, SkyOak Wealth LLC increased its holdings in shares of Paylocity by 7.1% in the second quarter. SkyOak Wealth LLC now owns 1,837 shares of the software maker’s stock valued at $242,000 after purchasing an additional 122 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. KeyCorp lifted their price objective on shares of Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Barclays boosted their target price on Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and set a $250.00 price objective on shares of Paylocity in a report on Monday, August 5th. BTIG Research decreased their price target on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, StockNews.com downgraded shares of Paylocity from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Paylocity currently has an average rating of “Moderate Buy” and a consensus target price 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.