Steven I. Sarowitz Sells 23,243 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 23,243 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $191.00, for a total transaction of $4,439,413.00. Following the sale, the director now directly owns 470,452 shares of the company’s stock, valued at approximately $89,856,332. The trade was a 4.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Paylocity Trading Down 0.7 %

NASDAQ PCTY opened at $194.69 on Wednesday. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $223.80. The company’s 50-day moving average price is $201.60 and its 200-day moving average price is $192.03. The stock has a market cap of $10.88 billion, a PE ratio of 49.92, a PEG ratio of 4.49 and a beta of 0.94. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28.

Paylocity (NASDAQ:PCTY) last issued its earnings results on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. Equities research analysts forecast that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. UBS Group upped their price target on shares of Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Stifel Nicolaus boosted their price objective on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, February 7th. StockNews.com downgraded Paylocity from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. JMP Securities increased their price objective on shares of Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a report on Friday, February 7th. Finally, KeyCorp upped their target price on shares of Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Paylocity presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.25.

Hedge Funds Weigh In On Paylocity

Several institutional investors have recently made changes to their positions in PCTY. Certuity LLC bought a new position in Paylocity during the 4th quarter worth about $232,000. Edgestream Partners L.P. lifted its position in shares of Paylocity by 222.3% in the 3rd quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock worth $1,788,000 after purchasing an additional 7,475 shares during the period. Barclays PLC boosted its stake in shares of Paylocity by 14.3% during the third quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock valued at $7,407,000 after purchasing an additional 5,609 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Paylocity by 5,742.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker’s stock valued at $1,165,000 after buying an additional 5,742 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Paylocity by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker’s stock worth $46,592,000 after buying an additional 4,697 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

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.