Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz Sells 23,243 Shares

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 23,243 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $191.00, for a total value of $4,439,413.00. Following the completion of the transaction, the director now directly owns 470,452 shares in the company, valued at $89,856,332. This represents a 4.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Paylocity Stock Performance

Shares of PCTY stock opened at $196.16 on Tuesday. The firm has a market cap of $10.96 billion, a P/E ratio of 50.30, a PEG ratio of 4.49 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80. The stock’s 50-day moving average is $201.56 and its two-hundred day moving average is $191.74.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. Analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. KeyCorp lifted their target price on Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. JMP Securities boosted their price objective on Paylocity from $250.00 to $270.00 and gave the stock a “market outperform” rating in a report on Friday, February 7th. Citigroup upgraded shares of Paylocity from a “neutral” rating to a “buy” rating and raised their target price for the stock from $214.00 to $231.00 in a report on Thursday, January 16th. Barclays boosted their price target on shares of Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Finally, TD Cowen decreased their price objective on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and fourteen have issued 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 an average price target of $233.25.

Institutional Investors Weigh In On Paylocity

Large investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Paylocity in the third quarter worth about $2,176,000. Charles Schwab Investment Management Inc. lifted its holdings in Paylocity by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker’s stock worth $46,592,000 after purchasing an additional 4,697 shares during the last quarter. Cerity Partners LLC boosted its position in Paylocity by 28.6% during the third quarter. Cerity Partners LLC now owns 17,046 shares of the software maker’s stock worth $2,812,000 after purchasing an additional 3,794 shares during the period. Fisher Asset Management LLC raised its position in shares of Paylocity by 3.2% in the third quarter. Fisher Asset Management LLC now owns 76,160 shares of the software maker’s stock valued at $12,564,000 after purchasing an additional 2,354 shares during the period. Finally, Associated Banc Corp bought a new position in shares of Paylocity in the third quarter valued at approximately $216,000. 94.76% of the stock is currently owned by institutional investors.

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.