Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz Sells 10,621 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 10,621 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $200.86, for a total transaction of $2,133,334.06. Following the completion of the transaction, the director now owns 8,365,533 shares of the company’s stock, valued at $1,680,300,958.38. This trade represents a 0.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Paylocity Stock Performance

Shares of Paylocity stock opened at $202.78 on Tuesday. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $215.68. 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 capitalization of $11.30 billion, a PE ratio of 51.86, a PEG ratio of 4.93 and a beta of 0.92. The stock’s fifty day simple moving average is $191.97 and its 200 day simple moving average is $164.21.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PCTY shares. KeyCorp boosted their target price on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Needham & Company LLC boosted their price objective on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Truist Financial raised their target price on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 1st. StockNews.com raised shares of Paylocity from a “hold” rating to a “buy” rating in a research note on Saturday, December 7th. Finally, Jefferies Financial Group raised their price objective on shares of Paylocity from $215.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.71.

Institutional Investors Weigh In On Paylocity

Hedge funds have recently modified their holdings of the business. UMB Bank n.a. increased its stake in Paylocity by 1,650.0% during the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after purchasing an additional 165 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Paylocity in the third quarter valued at approximately $39,000. Rothschild Investment LLC bought a new stake in shares of Paylocity during the second quarter worth $40,000. Signaturefd LLC raised its holdings in shares of Paylocity by 121.0% during the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after acquiring an additional 167 shares during the period. Finally, Quarry LP lifted its position in Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after acquiring an additional 185 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.