Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $2,307,215.42 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 11,306 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $204.07, for a total value of $2,307,215.42. Following the completion of the sale, the director now directly owns 9,243,074 shares in the company, valued at approximately $1,886,234,111.18. This represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Paylocity Trading Down 0.9 %

Shares of PCTY stock opened at $209.87 on Friday. The firm has a market capitalization of $11.70 billion, a PE ratio of 53.68, a PEG ratio of 5.17 and a beta of 0.93. The stock has a fifty day simple moving average of $183.00 and a two-hundred day simple moving average of $161.10. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $215.68.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Needham & Company LLC boosted their price target on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com lowered shares of Paylocity from a “buy” rating to a “hold” rating in a report on Friday. BTIG Research decreased their price objective on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Mizuho boosted their price objective on shares of Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $196.64.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PCTY. UMB Bank n.a. grew its position in Paylocity by 1,650.0% in the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after acquiring an additional 165 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Paylocity in the third quarter worth about $39,000. Rothschild Investment LLC purchased a new position in Paylocity in the second quarter worth about $40,000. Signaturefd LLC grew its position in Paylocity by 121.0% in the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after acquiring an additional 167 shares in the last quarter. Finally, Quarry LP grew its position in Paylocity by 149.2% in the third quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after acquiring an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

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.