Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 15,444 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 15,444 shares of Paylocity stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $195.43, for a total transaction of $3,018,220.92. Following the transaction, the director now directly owns 9,272,906 shares in the company, valued at approximately $1,812,204,019.58. The trade was a 0.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Paylocity Stock Performance

PCTY opened at $205.28 on Friday. The firm has a 50 day moving average of $179.02 and a two-hundred day moving average of $159.87. The firm has a market capitalization of $11.44 billion, a PE ratio of 52.50, a P/E/G ratio of 5.06 and a beta of 0.93. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $215.68.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position in Paylocity by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock valued at $1,518,176,000 after buying an additional 278,607 shares during the period. Geode Capital Management LLC grew its position in shares of Paylocity by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock valued at $173,053,000 after acquiring an additional 36,590 shares during the period. Liontrust Investment Partners LLP increased its stake in shares of Paylocity by 27.1% in the 2nd quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock valued at $106,840,000 after purchasing an additional 172,807 shares in the last quarter. Van Berkom & Associates Inc. raised its holdings in Paylocity by 20.5% in the 2nd quarter. Van Berkom & Associates Inc. now owns 579,801 shares of the software maker’s stock worth $76,447,000 after purchasing an additional 98,478 shares during the period. Finally, Janus Henderson Group PLC boosted its position in Paylocity by 3.5% during the third quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker’s stock worth $85,444,000 after purchasing an additional 17,560 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PCTY has been the topic of a number of analyst reports. KeyCorp lifted 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. Jefferies Financial Group lifted their target price on Paylocity from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. StockNews.com raised shares of Paylocity from a “hold” rating to a “buy” rating in a research report on Thursday. Truist Financial raised their price target on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, BMO Capital Markets boosted their price objective on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently 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.