Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $1,442,238.00 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 6,900 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $209.02, for a total transaction of $1,442,238.00. Following the completion of the sale, the director now owns 8,933,409 shares in the company, valued at approximately $1,867,261,149.18. This trade represents a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Paylocity Trading Up 1.0 %

Shares of NASDAQ PCTY opened at $205.80 on Monday. The stock has a market cap of $11.47 billion, a price-to-earnings ratio of 52.63, a PEG ratio of 5.16 and a beta of 0.92. The business has a 50 day simple moving average of $188.32 and a 200 day simple moving average of $162.49. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $215.68. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. StockNews.com upgraded Paylocity from a “hold” rating to a “buy” rating in a report on Saturday. Mizuho boosted their price objective on Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Piper Sandler boosted their price objective 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 objective on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group boosted their price objective on Paylocity from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $196.64.

Institutional Investors Weigh In On Paylocity

Several large investors have recently made changes to their positions in PCTY. Millennium Management LLC grew its stake in shares of Paylocity by 435.2% in the 2nd quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock valued at $43,676,000 after buying an additional 269,354 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Paylocity by 283.8% during the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock worth $51,101,000 after purchasing an additional 229,057 shares during the period. Liontrust Investment Partners LLP boosted its position in Paylocity by 27.1% during the second quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock worth $106,840,000 after purchasing an additional 172,807 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in Paylocity by 1,662.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 181,920 shares of the software maker’s stock worth $23,986,000 after purchasing an additional 171,597 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Paylocity by 58.3% during the second quarter. Dimensional Fund Advisors LP now owns 335,946 shares of the software maker’s stock worth $44,296,000 after purchasing an additional 123,744 shares during the period. Institutional investors own 94.76% of the company’s stock.

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.