Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 6,900 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 6,900 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $209.02, for a total transaction of $1,442,238.00. Following the completion of the sale, the director now owns 8,933,409 shares in the company, valued at $1,867,261,149.18. This represents a 0.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Paylocity Trading Up 1.0 %

PCTY traded up $1.96 during trading on Friday, reaching $205.80. 252,274 shares of the company’s stock were exchanged, compared to its average volume of 492,785. The company’s fifty day moving average price is $187.43 and its 200-day moving average price is $162.38. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market capitalization of $11.47 billion, a PE ratio of 52.13, a P/E/G ratio of 5.11 and a beta of 0.92. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $215.68.

Institutional Trading of Paylocity

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers increased its stake in Paylocity by 128.7% in the first quarter. Cetera Investment Advisers now owns 11,783 shares of the software maker’s stock valued at $2,025,000 after purchasing an additional 6,630 shares in the last quarter. Cetera Advisors LLC acquired a new stake in Paylocity during the 1st quarter worth $729,000. CWM LLC grew its stake in Paylocity by 103.3% in the second quarter. CWM LLC now owns 557 shares of the software maker’s stock valued at $73,000 after acquiring an additional 283 shares during the period. SG Americas Securities LLC grew its stake in Paylocity by 2.9% in the second quarter. SG Americas Securities LLC now owns 5,843 shares of the software maker’s stock valued at $770,000 after acquiring an additional 162 shares during the period. Finally, Washington Capital Management Inc. increased its holdings in shares of Paylocity by 62.6% in the second quarter. Washington Capital Management Inc. now owns 5,530 shares of the software maker’s stock worth $729,000 after acquiring an additional 2,130 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PCTY has been the topic of a number of recent analyst reports. Piper Sandler boosted their price target on shares of Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Mizuho lifted their price objective on Paylocity from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Jefferies Financial Group increased 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. 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. Finally, Truist Financial increased their price objective on shares of Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Paylocity has an average rating of “Moderate Buy” and a consensus target price 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.