Steven I. Sarowitz Sells 3,083 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 3,083 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $200.73, for a total value of $618,850.59. Following the sale, the director now owns 8,335,347 shares in the company, valued at approximately $1,673,154,203.31. This represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Paylocity Stock Down 0.5 %

NASDAQ:PCTY opened at $199.66 on Friday. The firm has a market capitalization of $11.13 billion, a price-to-earnings ratio of 51.06, a price-to-earnings-growth ratio of 4.93 and a beta of 0.92. 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 twelve month low of $129.94 and a twelve month high of $215.68. The stock’s 50 day moving average price is $198.46 and its two-hundred day moving average price is $167.97.

Institutional Trading of Paylocity

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UMB Bank n.a. increased its stake in shares of 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 during the last quarter. Prospera Private Wealth LLC acquired a new position in Paylocity during the third quarter worth approximately $39,000. Rothschild Investment LLC acquired a new position in Paylocity during the second quarter worth approximately $40,000. Signaturefd LLC raised 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 buying an additional 167 shares during the period. Finally, Quarry LP lifted its position in shares of 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 buying an additional 185 shares during the last quarter. 94.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PCTY shares. StockNews.com raised shares of Paylocity from a “hold” rating to a “buy” rating in a report on Saturday, December 7th. Jefferies Financial Group increased their target price on Paylocity from $215.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, December 9th. BMO Capital Markets lifted their price target on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Needham & Company LLC increased their price objective on shares of Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Truist Financial boosted their target price on shares of Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.