Steven I. Sarowitz Sells 2,900 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 2,900 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $208.17, for a total value of $603,693.00. Following the sale, the director now owns 9,211,215 shares in the company, valued at $1,917,498,626.55. The trade was a 0.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Paylocity Trading Up 1.0 %

Shares of PCTY stock opened at $209.71 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market cap of $11.69 billion, a price-to-earnings ratio of 53.63, a PEG ratio of 5.16 and a beta of 0.92. The stock has a 50 day simple moving average of $186.61 and a 200-day simple moving average of $162.09. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $215.68.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PCTY. Tidal Investments LLC increased its position in shares of Paylocity by 207.0% during the third quarter. Tidal Investments LLC now owns 8,836 shares of the software maker’s stock worth $1,458,000 after purchasing an additional 5,958 shares in the last quarter. Coldstream Capital Management Inc. purchased a new stake in shares of Paylocity during the third quarter worth approximately $239,000. Geode Capital Management LLC increased its position in shares of 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 purchasing an additional 36,590 shares in the last quarter. Vestcor Inc increased its position in shares of Paylocity by 943.8% during the third quarter. Vestcor Inc now owns 10,000 shares of the software maker’s stock worth $1,650,000 after purchasing an additional 9,042 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Paylocity by 14.3% during the third quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock worth $7,407,000 after purchasing an additional 5,609 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Piper Sandler lifted their target price on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Needham & Company LLC lifted their target price on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. KeyCorp lifted their target price on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. BMO Capital Markets lifted their target price on Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group lifted their target price on Paylocity from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $196.64.

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.