Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $2,782,836.81 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 13,689 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $203.29, for a total transaction of $2,782,836.81. Following the sale, the director now directly owns 8,385,954 shares in the company, valued at $1,704,780,588.66. This trade represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Paylocity Stock Performance

PCTY opened at $200.17 on Friday. The company’s 50 day moving average is $191.37 and its 200 day moving average is $163.69. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. The company has a market cap of $11.16 billion, a price-to-earnings ratio of 51.19, a PEG ratio of 5.00 and a beta of 0.92. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $215.68.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PCTY shares. Piper Sandler upped their target price on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Mizuho upped their price objective on Paylocity from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday. Jefferies Financial Group lifted their target price on Paylocity from $215.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, December 9th. KeyCorp upped their price target on Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Truist Financial lifted their price objective on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. CIBC Asset Management Inc raised its holdings in Paylocity by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker’s stock worth $273,000 after purchasing an additional 58 shares during the period. Chicago Partners Investment Group LLC raised its stake in shares of Paylocity by 3.7% in the third quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker’s stock worth $395,000 after buying an additional 82 shares during the period. Covestor Ltd lifted its position in shares of Paylocity by 6.4% during the 3rd quarter. Covestor Ltd now owns 1,373 shares of the software maker’s stock valued at $227,000 after buying an additional 83 shares in the last quarter. King Luther Capital Management Corp lifted its position in shares of Paylocity by 1.0% during the 2nd quarter. King Luther Capital Management Corp now owns 9,981 shares of the software maker’s stock valued at $1,316,000 after buying an additional 103 shares in the last quarter. Finally, SkyOak Wealth LLC grew its stake in shares of Paylocity by 7.1% during the 2nd quarter. SkyOak Wealth LLC now owns 1,837 shares of the software maker’s stock valued at $242,000 after acquiring an additional 122 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

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.