Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz Sells 1,400 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 1,400 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $200.59, for a total value of $280,826.00. Following the completion of the sale, the director now directly owns 8,338,430 shares of the company’s stock, valued at $1,672,605,673.70. The trade was a 0.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Paylocity Stock Down 0.5 %

Shares of Paylocity stock opened at $199.66 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average price of $198.46 and a 200 day moving average price of $167.97. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $215.68. The firm has a market cap of $11.13 billion, a P/E ratio of 51.06, a P/E/G ratio of 4.93 and a beta of 0.92.

Institutional Investors Weigh In On Paylocity

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in Paylocity by 81.9% in the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock worth $141,303,000 after purchasing an additional 385,625 shares during the period. Millennium Management LLC lifted its position 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 worth $43,676,000 after buying an additional 269,354 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Paylocity by 283.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock valued at $51,101,000 after buying an additional 229,057 shares during the period. Skandinaviska Enskilda Banken AB publ grew its position in shares of Paylocity by 1,662.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 181,920 shares of the software maker’s stock valued at $23,986,000 after buying an additional 171,597 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake 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 acquiring an additional 123,744 shares during the period. 94.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PCTY has been the subject of a number of analyst reports. TD Cowen upped their price target on Paylocity from $208.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Jefferies Financial Group upped their target price on shares of Paylocity from $215.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Barclays raised their price target on shares of Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. KeyCorp boosted their price objective on shares of Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC raised their target price on Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Three research 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, the stock currently has an average rating of “Moderate Buy” and an average 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.