Insider Selling: Paylocity (NASDAQ:PCTY) SVP Sells $103,429.95 in Stock

Paylocity Holding Corporation (NASDAQ:PCTY) SVP Andrew Cappotelli sold 899 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $115.05, for a total transaction of $103,429.95. Following the sale, the senior vice president owned 17,679 shares of the company’s stock, valued at approximately $2,033,968.95. This trade represents a 4.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Trading Up 1.2%

PCTY opened at $113.02 on Friday. The stock has a market cap of $6.05 billion, a PE ratio of 24.10 and a beta of 0.49. Paylocity Holding Corporation has a twelve month low of $92.99 and a twelve month high of $197.91. The company has a fifty day moving average of $106.39 and a 200-day moving average of $125.99. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.07.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its stake in shares of Paylocity by 17.8% in the first quarter. Bank of America Corp DE now owns 449,722 shares of the software maker’s stock valued at $48,588,000 after buying an additional 68,084 shares in the last quarter. Edgestream Partners L.P. lifted its stake in shares of Paylocity by 30.8% in the first quarter. Edgestream Partners L.P. now owns 28,503 shares of the software maker’s stock valued at $3,079,000 after buying an additional 6,715 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Paylocity by 97.0% in the first quarter. Janus Henderson Group PLC now owns 452,153 shares of the software maker’s stock valued at $48,857,000 after buying an additional 222,593 shares in the last quarter. Bull Harbor Capital LLC bought a new position in shares of Paylocity in the first quarter valued at $350,000. Finally, Smith Group Asset Management LLC lifted its stake in shares of Paylocity by 159.7% in the first quarter. Smith Group Asset Management LLC now owns 6,906 shares of the software maker’s stock valued at $746,000 after buying an additional 4,247 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on PCTY. Robert W. Baird set a $193.00 target price on shares of Paylocity in a research note on Friday, May 8th. Raymond James Financial set a $140.00 target price on shares of Paylocity in a research note on Friday, May 8th. BTIG Research cut their target price on shares of Paylocity from $180.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Zacks Research raised shares of Paylocity from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Jefferies Financial Group set a $135.00 target price on shares of Paylocity in a research note on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $160.28.

About Paylocity

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.