Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz Sells 10,237 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 10,237 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $210.10, for a total value of $2,150,793.70. Following the completion of the sale, the director now owns 9,214,115 shares in the company, valued at approximately $1,935,885,561.50. The trade was a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Paylocity Price Performance

Shares of PCTY opened at $209.46 on Tuesday. The company has a 50 day moving average of $184.81 and a two-hundred day moving average of $161.51. The company has a market cap of $11.68 billion, a price-to-earnings ratio of 53.57, a price-to-earnings-growth ratio of 5.11 and a beta of 0.93. 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.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PCTY. International Assets Investment Management LLC increased its holdings in shares of 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 acquiring an additional 7,707 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of Paylocity during the first quarter worth $729,000. Cetera Investment Advisers grew its holdings in shares of Paylocity by 128.7% during the first quarter. Cetera Investment Advisers now owns 11,783 shares of the software maker’s stock valued at $2,025,000 after buying an additional 6,630 shares during the last quarter. Qsemble Capital Management LP acquired a new position in shares of Paylocity in the 2nd quarter valued at $842,000. Finally, Quest Partners LLC raised its stake in Paylocity by 82,275.0% in the 2nd quarter. Quest Partners LLC now owns 6,590 shares of the software maker’s stock worth $869,000 after acquiring an additional 6,582 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. StockNews.com lowered Paylocity from a “buy” rating to a “hold” rating in a research note on Friday. Mizuho lifted their price objective on shares of Paylocity from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Monday, November 4th. BMO Capital Markets raised their target price on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Barclays boosted their price target on Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, KeyCorp raised their price objective on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $196.64.

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.