Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 4,513 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Jeffrey T. Diehl sold 4,513 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $209.91, for a total transaction of $947,323.83. Following the transaction, the director now owns 1,003 shares of the company’s stock, valued at approximately $210,539.73. This represents a 81.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Paylocity Stock Performance

PCTY opened at $207.54 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. The business has a fifty day simple moving average of $183.90 and a 200 day simple moving average of $161.25. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $215.68. The company has a market capitalization of $11.57 billion, a PE ratio of 53.08, a price-to-earnings-growth ratio of 5.11 and a beta of 0.93.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PCTY. Jefferies Financial Group increased their price target on Paylocity from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. KeyCorp raised their target price on shares of Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Piper Sandler upped their price target on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and issued a $250.00 price target on shares of Paylocity in a research note on Monday, August 5th. Finally, Needham & Company LLC boosted their price objective 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. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.64.

Institutional Investors Weigh In On Paylocity

A number of institutional investors have recently modified their holdings of PCTY. International Assets Investment Management LLC raised its stake in Paylocity by 16,397.9% in the 3rd quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock worth $1,279,000 after purchasing an additional 7,707 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of Paylocity in the first quarter valued at approximately $729,000. Cetera Investment Advisers boosted its stake in shares of Paylocity by 128.7% in the first quarter. Cetera Investment Advisers now owns 11,783 shares of the software maker’s stock valued at $2,025,000 after buying an additional 6,630 shares during the period. Qsemble Capital Management LP acquired a new stake in Paylocity during the second quarter worth approximately $842,000. Finally, Quest Partners LLC raised its holdings in Paylocity by 82,275.0% in the 2nd quarter. Quest Partners LLC now owns 6,590 shares of the software maker’s stock valued at $869,000 after acquiring an additional 6,582 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

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.