Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz Sells 11,306 Shares

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 11,306 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $204.07, for a total value of $2,307,215.42. Following the sale, the director now directly owns 9,243,074 shares in the company, valued at $1,886,234,111.18. The trade was a 0.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Paylocity Stock Down 0.9 %

PCTY opened at $209.87 on Thursday. 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 stock has a fifty day moving average of $182.07 and a 200-day moving average of $160.76. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $215.68. The company has a market capitalization of $11.70 billion, a P/E ratio of 53.68, a P/E/G ratio of 5.17 and a beta of 0.93.

Institutional Trading of Paylocity

A number of institutional investors have recently bought and sold shares of the business. UMB Bank n.a. raised its position in shares of Paylocity by 1,650.0% in the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after buying an additional 165 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Paylocity during the 3rd quarter worth $39,000. Rothschild Investment LLC bought a new position in Paylocity during the 2nd quarter worth $40,000. Signaturefd LLC increased its position in shares of Paylocity by 121.0% in the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after purchasing an additional 167 shares during the period. Finally, Quarry LP raised its stake in Paylocity by 149.2% in the third quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after purchasing an additional 185 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Analyst Ratings Changes

PCTY has been the subject of several research reports. Truist Financial increased their price objective on shares of Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Piper Sandler upped their target price on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. KeyCorp boosted their price target on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. StockNews.com raised Paylocity from a “hold” rating to a “buy” rating in a report on Thursday, November 21st. Finally, BMO Capital Markets boosted their target price on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a report 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 MarketBeat, 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.