Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 12,226 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 12,226 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $196.29, for a total transaction of $2,399,841.54. Following the sale, the director now directly owns 9,300,847 shares of the company’s stock, valued at approximately $1,825,663,257.63. The trade was a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Paylocity Stock Up 0.3 %

PCTY stock traded up $0.51 during mid-day trading on Wednesday, reaching $195.29. 273,098 shares of the company traded hands, compared to its average volume of 500,498. The stock has a market cap of $10.89 billion, a price-to-earnings ratio of 49.82, a P/E/G ratio of 4.96 and a beta of 0.93. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $215.68. The firm’s 50 day moving average price is $176.43 and its 200 day moving average price is $159.08.

Institutional Investors Weigh In On Paylocity

Hedge funds and other institutional investors have recently bought and sold shares of the business. UMB Bank n.a. grew its position in Paylocity by 1,650.0% in the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after acquiring an additional 165 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in Paylocity during the third quarter valued at about $39,000. Rothschild Investment LLC purchased a new stake in Paylocity during the second quarter valued at about $40,000. Signaturefd LLC raised its stake in shares of Paylocity by 121.0% during the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after acquiring an additional 167 shares during the last quarter. Finally, Quarry LP raised its stake 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 acquiring an additional 185 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on PCTY shares. Barclays boosted their price objective on shares of Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Mizuho lifted their price target on Paylocity from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Monday, November 4th. JMP Securities restated a “market outperform” rating and set a $250.00 price objective on shares of Paylocity in a report on Monday, August 5th. Truist Financial upped their price objective on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets upped their price objective on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.