Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 2,900 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 2,900 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $208.59, for a total transaction of $604,911.00. Following the sale, the director now owns 8,945,315 shares in the company, valued at $1,865,903,255.85. The trade was a 0.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Paylocity Stock Performance

Shares of NASDAQ PCTY traded up $2.14 during mid-day trading on Wednesday, reaching $209.71. 406,589 shares of the company’s stock were exchanged, compared to its average volume of 494,477. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $215.68. The firm has a 50-day moving average price of $185.65 and a two-hundred day moving average price of $161.75. 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 firm has a market capitalization of $11.69 billion, a price-to-earnings ratio of 53.09, a price-to-earnings-growth ratio of 5.16 and a beta of 0.92.

Institutional Investors Weigh In On Paylocity

Hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC lifted its position in shares of Paylocity by 16,397.9% during the 3rd quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock valued at $1,279,000 after buying an additional 7,707 shares during the last quarter. Cetera Advisors LLC purchased a new position in shares of Paylocity in the first quarter worth about $729,000. Cetera Investment Advisers raised its position in shares of 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 during the period. Qsemble Capital Management LP purchased a new stake in shares of Paylocity during the 2nd quarter valued at approximately $842,000. Finally, Quest Partners LLC boosted its holdings in Paylocity by 82,275.0% in the 2nd quarter. Quest Partners LLC now owns 6,590 shares of the software maker’s stock worth $869,000 after buying an additional 6,582 shares during the period. Institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Piper Sandler upped their target price on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. StockNews.com lowered Paylocity from a “buy” rating to a “hold” rating in a research note on Friday, November 29th. Barclays increased their target price on shares of Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Needham & Company LLC boosted their price objective on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group lifted 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. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Paylocity presently has a consensus 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.