Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $604,911.00 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 2,900 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $208.59, for a total transaction of $604,911.00. Following the completion of the transaction, the director now owns 8,945,315 shares of the company’s stock, valued at $1,865,903,255.85. This trade represents a 0.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Paylocity Stock Performance

Shares of PCTY opened at $205.80 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $215.68. The firm has a fifty day moving average of $188.32 and a 200-day moving average of $162.62. The company has a market cap of $11.47 billion, a price-to-earnings ratio of 52.63, a price-to-earnings-growth ratio of 5.11 and a beta of 0.92.

Wall Street Analysts Forecast Growth

PCTY has been the subject of several recent analyst reports. BMO Capital Markets raised their target price on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. KeyCorp lifted their price objective on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Needham & Company LLC raised their price target on shares of Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Piper Sandler upped their price target on shares of Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Truist Financial increased their price objective on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Paylocity presently has an average rating of “Moderate Buy” and a consensus target price of $196.64.

Institutional Investors Weigh In On Paylocity

Large investors have recently made changes to their positions in the company. UMB Bank n.a. grew its holdings in Paylocity by 1,650.0% in the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after buying an additional 165 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Paylocity during the 3rd quarter worth $39,000. Rothschild Investment LLC bought a new position in shares of Paylocity in the second quarter worth $40,000. Signaturefd LLC increased 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 during the period. Finally, Quarry LP lifted its holdings in Paylocity by 149.2% in the third quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after purchasing an additional 185 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Company Profile

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.