Steven I. Sarowitz Sells 6,900 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 6,900 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $209.02, for a total value of $1,442,238.00. Following the sale, the director now directly owns 8,933,409 shares in the company, valued at approximately $1,867,261,149.18. The trade was a 0.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Paylocity Trading Up 1.0 %

NASDAQ:PCTY opened at $205.80 on Friday. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $215.68. The firm has a market capitalization of $11.47 billion, a P/E ratio of 52.63, a P/E/G ratio of 5.16 and a beta of 0.92. 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 50 day simple moving average of $188.32 and a 200 day simple moving average of $162.62.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PCTY shares. KeyCorp increased their target price on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. BMO Capital Markets raised their target price on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Jefferies Financial Group raised their price objective on Paylocity from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Mizuho raised their price objective on Paylocity from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, StockNews.com upgraded Paylocity from a “hold” rating to a “buy” rating in a research note on Saturday. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $196.64.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. boosted its position in Paylocity by 1,650.0% during the 3rd 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 during the period. Prospera Private Wealth LLC bought a new position in shares of Paylocity in the third quarter worth $39,000. Rothschild Investment LLC acquired a new position in shares of Paylocity during the second quarter valued at $40,000. Signaturefd LLC raised its stake 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 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.

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.