Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz Sells 15,444 Shares

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 15,444 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $195.43, for a total value of $3,018,220.92. Following the completion of the sale, the director now owns 9,272,906 shares of the company’s stock, valued at $1,812,204,019.58. This represents a 0.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Paylocity Price Performance

PCTY opened at $205.28 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $11.44 billion, a P/E ratio of 52.50, a price-to-earnings-growth ratio of 5.06 and a beta of 0.93. The company’s 50 day simple moving average is $179.02 and its 200-day simple moving average is $159.80. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $215.68.

Institutional Investors Weigh In On Paylocity

Several hedge funds and other institutional investors have recently made changes to their positions in the company. UMB Bank n.a. lifted its stake in shares of Paylocity by 1,650.0% during the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after acquiring an additional 165 shares during the period. Prospera Private Wealth LLC acquired a new position in Paylocity during the 3rd quarter valued at about $39,000. Rothschild Investment LLC bought a new position in shares of Paylocity in the 2nd quarter valued at about $40,000. Signaturefd LLC grew its position in shares of Paylocity by 121.0% during the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after buying an additional 167 shares during the period. 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 worth $51,000 after buying an additional 185 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PCTY has been the topic of several analyst reports. Piper Sandler upped their price objective on Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Needham & Company LLC upped their price target on Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and set a $250.00 price objective on shares of Paylocity in a report on Monday, August 5th. KeyCorp upped their target price on shares of Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Truist Financial lifted their price target on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Paylocity has a consensus rating of “Moderate Buy” and a consensus target price 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.