Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz Sells 2,600 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 2,600 shares of Paylocity stock in a transaction on Monday, December 30th. The stock was sold at an average price of $200.14, for a total value of $520,364.00. Following the transaction, the director now directly owns 8,332,347 shares of the company’s stock, valued at $1,667,635,928.58. This trade represents a 0.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Paylocity Stock Performance

Shares of PCTY stock opened at $195.07 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market capitalization of $10.87 billion, a price-to-earnings ratio of 49.89, a price-to-earnings-growth ratio of 4.93 and a beta of 0.92. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $215.68. The company has a 50 day moving average price of $200.48 and a 200 day moving average price of $169.61.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PCTY. JPMorgan Chase & Co. raised its holdings in shares of Paylocity by 81.9% in the 3rd 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. Lord Abbett & CO. LLC increased its position in Paylocity by 3.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 287,264 shares of the software maker’s stock worth $47,389,000 after purchasing an additional 8,878 shares in the last quarter. Tidal Investments LLC raised its holdings in Paylocity by 207.0% in the third quarter. Tidal Investments LLC now owns 8,836 shares of the software maker’s stock valued at $1,458,000 after buying an additional 5,958 shares during the period. Coldstream Capital Management Inc. acquired a new position in Paylocity during the third quarter valued at approximately $239,000. Finally, Geode Capital Management LLC grew its stake in Paylocity by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock worth $173,053,000 after buying an additional 36,590 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PCTY. Piper Sandler lifted their target price on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. TD Cowen lifted their price objective on Paylocity from $208.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. BMO Capital Markets increased 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. Needham & Company LLC boosted their price target on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Mizuho upped their price objective on Paylocity from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Paylocity presently has a consensus rating of “Moderate Buy” and an average price target of $205.71.

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.