Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz Sells 10,621 Shares

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 10,621 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $200.86, for a total transaction of $2,133,334.06. Following the transaction, the director now owns 8,365,533 shares in the company, valued at approximately $1,680,300,958.38. This trade represents a 0.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Paylocity Stock Performance

Shares of PCTY traded up $2.61 during trading hours on Monday, hitting $202.78. The stock had a trading volume of 317,905 shares, compared to its average volume of 490,524. The firm has a market capitalization of $11.30 billion, a price-to-earnings ratio of 51.87, a PEG ratio of 4.93 and a beta of 0.92. 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 firm has a 50-day moving average price of $191.97 and a 200 day moving average price of $164.21. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $215.68.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. 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. Truist Financial upped their target price on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Piper Sandler lifted their price target on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Jefferies Financial Group boosted their price target on Paylocity from $215.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, KeyCorp raised their price objective on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Paylocity has a consensus rating of “Moderate Buy” and a consensus target price of $205.71.

Institutional Investors Weigh In On Paylocity

Institutional investors have recently modified their holdings of the business. Millennium Management LLC lifted its holdings in Paylocity by 435.2% during the second quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock valued at $43,676,000 after purchasing an additional 269,354 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Paylocity by 283.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock valued at $51,101,000 after buying an additional 229,057 shares in the last quarter. Liontrust Investment Partners LLP boosted its holdings in Paylocity by 27.1% in the 2nd quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock worth $106,840,000 after buying an additional 172,807 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Paylocity by 1,662.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 181,920 shares of the software maker’s stock valued at $23,986,000 after acquiring an additional 171,597 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Paylocity by 58.3% in the second quarter. Dimensional Fund Advisors LP now owns 335,946 shares of the software maker’s stock valued at $44,296,000 after acquiring an additional 123,744 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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.