Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $2,396,116.32 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 11,778 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $203.44, for a total transaction of $2,396,116.32. Following the sale, the director now directly owns 8,414,936 shares of the company’s stock, valued at approximately $1,711,934,579.84. This represents a 0.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $200.17 on Friday. 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 firm has a market cap of $11.16 billion, a price-to-earnings ratio of 51.19, a P/E/G ratio of 5.00 and a beta of 0.92. The firm has a fifty day moving average price of $191.37 and a 200 day moving average price of $163.69. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $215.68.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its stake in Paylocity by 16,397.9% during the third quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock valued at $1,279,000 after buying an additional 7,707 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Paylocity by 128.7% during the 1st quarter. Cetera Investment Advisers now owns 11,783 shares of the software maker’s stock valued at $2,025,000 after acquiring an additional 6,630 shares during the last quarter. Edgestream Partners L.P. grew its holdings in shares of Paylocity by 222.3% in the third quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock valued at $1,788,000 after purchasing an additional 7,475 shares in the last quarter. Qsemble Capital Management LP bought a new stake in Paylocity in the second quarter worth $842,000. Finally, Quest Partners LLC raised its stake in Paylocity by 82,275.0% during the second quarter. Quest Partners LLC now owns 6,590 shares of the software maker’s stock valued at $869,000 after purchasing an additional 6,582 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets boosted their price objective on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. TD Cowen upped their price target on Paylocity from $208.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Mizuho raised their price objective on Paylocity from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday. StockNews.com upgraded Paylocity from a “hold” rating to a “buy” rating in a research note on Saturday, December 7th. Finally, Barclays raised their target price on shares of Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Three equities 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.71.

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.