Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $5,116,777.32 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 26,252 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.91, for a total value of $5,116,777.32. Following the sale, the director now owns 420,000 shares in the company, valued at approximately $81,862,200. The trade was a 5.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Paylocity Trading Down 2.5 %

Shares of NASDAQ:PCTY opened at $186.33 on Friday. The firm has a market capitalization of $10.41 billion, a price-to-earnings ratio of 47.78, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94. The business’s 50 day moving average price is $201.20 and its 200-day moving average price is $192.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $223.80.

Paylocity (NASDAQ:PCTY) last released 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%. On average, equities research analysts forecast that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

PCTY has been the topic of a number of recent research reports. Raymond James reiterated an “outperform” rating and issued a $265.00 target price (up previously from $215.00) on shares of Paylocity in a research report on Friday, February 7th. StockNews.com lowered shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Citigroup upgraded shares of Paylocity from a “neutral” rating to a “buy” rating and boosted their target price for the company from $214.00 to $231.00 in a research report on Thursday, January 16th. Jefferies Financial Group increased their price target on Paylocity from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, Needham & Company LLC boosted their price objective on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $233.25.

Institutional Trading of Paylocity

Institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp acquired a new stake in Paylocity during the 4th quarter worth $713,000. Amiral Gestion acquired a new position in Paylocity during the fourth quarter worth about $7,352,000. Castleark Management LLC grew its stake in Paylocity by 1,755.2% during the 4th quarter. Castleark Management LLC now owns 30,240 shares of the software maker’s stock valued at $6,032,000 after acquiring an additional 28,610 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Paylocity by 24.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 128,794 shares of the software maker’s stock valued at $25,691,000 after acquiring an additional 25,414 shares during the last quarter. Finally, Sone Capital Management LLC purchased a new position in Paylocity in the 4th quarter worth approximately $1,948,000. 94.76% of the stock is owned by institutional investors and hedge funds.

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.