Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 11,778 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 11,778 shares of Paylocity stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $203.44, for a total value of $2,396,116.32. Following the completion of the sale, the director now owns 8,414,936 shares of the company’s stock, valued at $1,711,934,579.84. The trade was a 0.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Paylocity Price Performance

NASDAQ PCTY opened at $204.59 on Friday. The business’s fifty day moving average is $191.37 and its 200 day moving average is $163.69. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $215.68. 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 company has a market capitalization of $11.41 billion, a PE ratio of 52.32, a price-to-earnings-growth ratio of 5.07 and a beta of 0.92.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Tidal Investments LLC raised its stake in Paylocity by 207.0% during the 3rd quarter. Tidal Investments LLC now owns 8,836 shares of the software maker’s stock worth $1,458,000 after acquiring an additional 5,958 shares during the period. Coldstream Capital Management Inc. bought a new position in Paylocity in the 3rd quarter worth $239,000. Geode Capital Management LLC raised its holdings in Paylocity by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock valued at $173,053,000 after acquiring an additional 36,590 shares during the period. Vestcor Inc boosted its stake in shares of Paylocity by 943.8% in the third quarter. Vestcor Inc now owns 10,000 shares of the software maker’s stock worth $1,650,000 after acquiring an additional 9,042 shares during the period. Finally, Barclays PLC raised its stake in Paylocity by 14.3% during the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock valued at $7,407,000 after purchasing an additional 5,609 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PCTY. BMO Capital Markets raised their price target on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Needham & Company LLC raised their target price on shares of Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Mizuho boosted their target price on shares of Paylocity from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Jefferies Financial Group increased their price target on Paylocity from $215.00 to $240.00 and gave the company a “buy” rating in a report on Monday. Finally, TD Cowen lifted their price objective on Paylocity from $208.00 to $235.00 and gave the stock a “buy” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $204.29.

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.