Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $2,150,793.70 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 10,237 shares of Paylocity stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $210.10, for a total value of $2,150,793.70. Following the completion of the transaction, the director now owns 9,214,115 shares in the company, valued at $1,935,885,561.50. The trade was a 0.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Paylocity Price Performance

PCTY stock opened at $207.57 on Wednesday. The stock’s 50 day moving average is $185.65 and its two-hundred day moving average is $161.75. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $215.68. The company has a market capitalization of $11.57 billion, a PE ratio of 53.09, a P/E/G ratio of 5.16 and a beta of 0.92. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PCTY. Needham & Company LLC lifted their price objective on Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Truist Financial boosted their price objective on shares of Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. StockNews.com lowered shares of Paylocity from a “buy” rating to a “hold” rating in a report on Friday, November 29th. KeyCorp increased their price target on Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Mizuho boosted their price objective on Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Paylocity presently has a consensus rating of “Moderate Buy” and an average target price of $196.64.

Institutional Trading of Paylocity

Several institutional investors have recently added to or reduced their stakes in PCTY. UMB Bank n.a. increased its position in shares of Paylocity by 1,650.0% in the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after purchasing an additional 165 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in Paylocity in the third quarter valued at about $39,000. Rothschild Investment LLC bought a new stake in Paylocity in the second quarter valued at about $40,000. Signaturefd LLC raised its stake in Paylocity by 121.0% during the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after buying an additional 167 shares in the last quarter. Finally, Quarry LP lifted its holdings in Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after buying an additional 185 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

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.