Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $2,782,836.81 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 13,689 shares of Paylocity stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $203.29, for a total value of $2,782,836.81. Following the sale, the director now directly owns 8,385,954 shares in the company, valued at $1,704,780,588.66. The trade was a 0.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Paylocity Stock Down 2.2 %

Shares of Paylocity stock opened at $200.17 on Monday. 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 12 month low of $129.94 and a 12 month high of $215.68. The business has a fifty day simple moving average of $191.97 and a 200 day simple moving average of $164.21. The stock has a market cap of $11.16 billion, a PE ratio of 51.19, a price-to-earnings-growth ratio of 4.93 and a beta of 0.92.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PCTY. Barclays lifted their price objective on Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Needham & Company LLC lifted 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. BMO Capital Markets lifted their price objective on Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. StockNews.com upgraded Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday, December 7th. Finally, KeyCorp raised 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. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.71.

Institutional Investors Weigh In On Paylocity

Institutional investors have recently made changes to their positions in the stock. UMB Bank n.a. grew its stake in 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 acquiring an additional 165 shares during the period. Prospera Private Wealth LLC acquired a new position in Paylocity in the third quarter valued at about $39,000. Rothschild Investment LLC acquired a new position in Paylocity in the second quarter valued at about $40,000. Signaturefd LLC grew its stake in Paylocity by 121.0% in 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 period. Finally, Quarry LP grew 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 acquiring an additional 185 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

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.