Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $280,826.00 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $200.59, for a total value of $280,826.00. Following the transaction, the director now owns 8,338,430 shares of the company’s stock, valued at approximately $1,672,605,673.70. This trade represents a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Paylocity Trading Down 0.5 %

PCTY stock opened at $199.66 on Monday. 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 stock has a market capitalization of $11.13 billion, a price-to-earnings ratio of 51.06, a P/E/G ratio of 4.93 and a beta of 0.92. The business has a fifty day moving average price of $198.46 and a 200 day moving average price of $168.36. 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 hedge funds and other institutional investors have recently made changes to their positions in PCTY. JPMorgan Chase & Co. grew its holdings in Paylocity by 81.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock worth $141,303,000 after acquiring an additional 385,625 shares during the last quarter. Millennium Management LLC grew its stake in shares of Paylocity by 435.2% during the second quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock valued at $43,676,000 after purchasing an additional 269,354 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Paylocity by 283.8% in the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock valued at $51,101,000 after purchasing an additional 229,057 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in Paylocity by 1,662.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 181,920 shares of the software maker’s stock worth $23,986,000 after purchasing an additional 171,597 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Paylocity by 58.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 335,946 shares of the software maker’s stock worth $44,296,000 after purchasing an additional 123,744 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PCTY shares. BMO Capital Markets upped their target price on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research note 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 research report on Thursday, October 31st. KeyCorp upped 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. Mizuho lifted their price objective on Paylocity from $180.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Finally, Barclays upped their target price on Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Paylocity has a consensus rating of “Moderate Buy” and an average price target of $205.71.

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.