Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $280,826.00 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 1,400 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $200.59, for a total transaction of $280,826.00. Following the transaction, the director now owns 8,338,430 shares in the company, valued at approximately $1,672,605,673.70. This trade represents a 0.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Paylocity Price Performance

NASDAQ:PCTY opened at $199.66 on Friday. 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 company has a 50 day moving average price of $198.46 and a 200-day moving average price of $168.16. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $215.68. The firm has a market cap of $11.13 billion, a price-to-earnings ratio of 51.06, a price-to-earnings-growth ratio of 4.93 and a beta of 0.92.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCTY. International Assets Investment Management LLC grew its position in shares of Paylocity by 16,397.9% during the 3rd quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock valued at $1,279,000 after acquiring an additional 7,707 shares during the period. Edgestream Partners L.P. boosted its position in Paylocity by 222.3% during the third quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock worth $1,788,000 after purchasing an additional 7,475 shares in the last quarter. Barclays PLC boosted its position in Paylocity by 14.3% during the third quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock worth $7,407,000 after purchasing an additional 5,609 shares in the last quarter. Qsemble Capital Management LP acquired a new stake in Paylocity in the second quarter valued at approximately $842,000. Finally, Quest Partners LLC increased its position in shares of Paylocity by 82,275.0% in the second quarter. Quest Partners LLC now owns 6,590 shares of the software maker’s stock valued at $869,000 after buying an additional 6,582 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. StockNews.com upgraded shares of Paylocity from a “hold” rating to a “buy” rating in a research note on Saturday, December 7th. Needham & Company LLC raised their target price on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Truist Financial lifted their price target on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Piper Sandler raised their price objective on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group upped their target price on Paylocity from $215.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $205.71.

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.