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

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 2,900 shares of the company’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 completion of the transaction, the director now owns 9,211,215 shares of the company’s stock, valued at $1,917,498,626.55. The trade was a 0.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Paylocity Price Performance

Shares of Paylocity stock opened at $207.57 on Wednesday. The business has a 50 day moving average of $185.65 and a 200 day moving average of $161.75. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $215.68. The company has a market cap of $11.57 billion, a PE ratio of 53.09, a P/E/G ratio of 5.16 and a beta of 0.92. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29.

Analyst Ratings Changes

PCTY has been the subject of several research reports. StockNews.com lowered Paylocity from a “buy” rating to a “hold” rating in a research note on Friday, November 29th. Jefferies Financial Group increased their target price on shares of Paylocity from $200.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Mizuho boosted their price target on shares of Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Needham & Company LLC raised their price objective on Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Barclays increased their target price on Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $196.64.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. UMB Bank n.a. boosted its holdings in shares of Paylocity by 1,650.0% during the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after acquiring an additional 165 shares during the last quarter. Prospera Private Wealth LLC bought a new position in Paylocity during the third quarter valued at approximately $39,000. Rothschild Investment LLC purchased a new stake in Paylocity in the second quarter worth approximately $40,000. Signaturefd LLC raised its stake in Paylocity by 121.0% during the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after buying an additional 167 shares during the last quarter. Finally, Quarry LP lifted its holdings in shares of Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after buying an additional 185 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

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.