Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $947,323.83 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Jeffrey T. Diehl sold 4,513 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $209.91, for a total transaction of $947,323.83. Following the transaction, the director now directly owns 1,003 shares of the company’s stock, valued at approximately $210,539.73. This represents a 81.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Paylocity Trading Down 1.1 %

NASDAQ PCTY traded down $2.33 during trading on Friday, hitting $207.54. 226,511 shares of the company’s stock traded hands, compared to its average volume of 497,889. The firm has a market cap of $11.57 billion, a P/E ratio of 53.68, a PEG ratio of 5.17 and a beta of 0.93. The stock has a fifty day moving average of $183.00 and a two-hundred day moving average of $161.10. 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 12-month low of $129.94 and a 12-month high of $215.68.

Institutional Investors Weigh In On Paylocity

Institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC grew its holdings in shares of Paylocity by 16,397.9% in the third quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock worth $1,279,000 after purchasing an additional 7,707 shares during the last quarter. Cetera Advisors LLC purchased a new position in shares of Paylocity in the first quarter valued at about $729,000. Cetera Investment Advisers raised its stake in shares of Paylocity by 128.7% during the first quarter. Cetera Investment Advisers now owns 11,783 shares of the software maker’s stock valued at $2,025,000 after acquiring an additional 6,630 shares during the last quarter. Qsemble Capital Management LP purchased a new stake in shares of Paylocity during the second quarter worth about $842,000. Finally, Quest Partners LLC grew its stake in shares of Paylocity by 82,275.0% in the second quarter. Quest Partners LLC now owns 6,590 shares of the software maker’s stock worth $869,000 after purchasing an additional 6,582 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. JMP Securities restated a “market outperform” rating and set a $250.00 price target on shares of Paylocity in a research report on Monday, August 5th. BTIG Research decreased their target price on Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Truist Financial lifted their price target on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets lifted their target price on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, StockNews.com cut shares of Paylocity from a “buy” rating to a “hold” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $196.64.

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.