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 firm’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 transaction of $618,850.59. Following the completion of the transaction, the director now directly owns 8,335,347 shares of the company’s stock, valued at $1,673,154,203.31. This represents a 0.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Paylocity Price Performance

Shares of PCTY opened at $199.66 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $215.68. The stock has a market cap of $11.13 billion, a PE ratio of 51.06, a price-to-earnings-growth ratio of 4.93 and a beta of 0.92. The firm has a fifty day moving average price of $198.46 and a 200 day moving average price of $168.16.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PCTY shares. BMO Capital Markets lifted their target price on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Truist Financial lifted their price objective on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 1st. KeyCorp raised their target price on shares of Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Piper Sandler lifted their price target on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, TD Cowen increased their price objective on shares of Paylocity from $208.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Paylocity has a consensus rating of “Moderate Buy” and an average target price of $205.71.

Institutional Trading of Paylocity

Several institutional investors and hedge funds have recently made changes to their positions in the company. UMB Bank n.a. grew its stake in 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 buying an additional 165 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Paylocity in the third quarter valued at approximately $39,000. Rothschild Investment LLC purchased a new position in shares of Paylocity during the second quarter worth approximately $40,000. Signaturefd LLC increased its holdings in shares of Paylocity by 121.0% in the 3rd 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 raised its position in Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after purchasing an additional 185 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

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.