Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $603,693.00 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 2,900 shares of Paylocity stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $208.17, for a total transaction of $603,693.00. Following the transaction, the director now directly owns 9,211,215 shares in the company, valued at $1,917,498,626.55. The trade was a 0.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Paylocity Stock Down 0.9 %

NASDAQ:PCTY traded down $1.89 during trading hours on Tuesday, hitting $207.57. 191,144 shares of the company traded hands, compared to its average volume of 425,412. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. The firm’s 50-day simple moving average is $184.81 and its 200-day simple moving average is $161.51. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $215.68. The company has a market cap of $11.57 billion, a PE ratio of 53.09, a PEG ratio of 5.16 and a beta of 0.92.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PCTY. StockNews.com lowered shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Friday. KeyCorp upped their price target 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. BMO Capital Markets upped their price target on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Mizuho increased their target price on shares of Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, Needham & Company LLC increased their target price on shares of Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Four equities research 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 presently has a consensus rating of “Moderate Buy” and an average target price of $196.64.

Hedge Funds Weigh In On Paylocity

Several hedge funds have recently bought and sold shares of PCTY. UMB Bank n.a. boosted its position 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 stake in Paylocity in the third quarter worth $39,000. Rothschild Investment LLC bought a new position in shares of Paylocity during the second quarter valued at $40,000. Signaturefd LLC lifted its holdings in shares of Paylocity by 121.0% during the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after purchasing an additional 167 shares in the last quarter. Finally, Quarry LP increased its position in Paylocity by 149.2% during 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 last quarter. Hedge funds and other 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.