Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz Sells 15,444 Shares

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 15,444 shares of Paylocity stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $195.43, for a total transaction of $3,018,220.92. Following the completion of the sale, the director now owns 9,272,906 shares of the company’s stock, valued at approximately $1,812,204,019.58. This trade represents a 0.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Paylocity Stock Up 1.7 %

PCTY stock opened at $205.28 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. The firm’s 50-day simple moving average is $178.10 and its 200 day simple moving average is $159.63. The stock has a market cap of $11.44 billion, a PE ratio of 52.50, a price-to-earnings-growth ratio of 5.06 and a beta of 0.93. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $215.68.

Institutional Investors Weigh In On Paylocity

Several large investors have recently made changes to their positions in PCTY. 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 bought a new stake in Paylocity during the 3rd quarter valued at $39,000. Rothschild Investment LLC acquired a new position in Paylocity during the 2nd quarter worth $40,000. Signaturefd LLC grew its stake in shares of Paylocity by 121.0% in the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after purchasing an additional 167 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of Paylocity by 149.2% during the third quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after purchasing an additional 185 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PCTY shares. JMP Securities reissued a “market outperform” rating and issued a $250.00 target price on shares of Paylocity in a research report on Monday, August 5th. Mizuho upped 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. StockNews.com upgraded Paylocity from a “hold” rating to a “buy” rating in a research report on Thursday. BMO Capital Markets upped their price target on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, BTIG Research decreased their price objective on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Paylocity currently has an average rating of “Moderate Buy” and a consensus target price of $196.64.

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.