Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 10,237 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 10,237 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $210.10, for a total value of $2,150,793.70. Following the sale, the director now owns 9,214,115 shares of the company’s stock, valued at $1,935,885,561.50. The trade was a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Paylocity Trading Up 1.0 %

Shares of PCTY stock traded up $2.13 during mid-day trading on Monday, hitting $209.67. The company’s stock had a trading volume of 145,440 shares, compared to its average volume of 496,271. The company’s fifty day simple moving average is $183.90 and its 200-day simple moving average is $161.25. 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 $11.69 billion, a PE ratio of 53.08, a P/E/G ratio of 5.11 and a beta of 0.93. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32.

Analyst Ratings Changes

PCTY has been the subject of a number of research reports. Jefferies Financial Group increased their price target on Paylocity from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Piper Sandler boosted their price target on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. StockNews.com lowered shares of Paylocity from a “buy” rating to a “hold” rating in a report on Friday. Mizuho boosted their target price on shares of Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, BMO Capital Markets raised their price target 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. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $196.64.

Institutional Trading of Paylocity

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