Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $3,018,220.92 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 15,444 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $195.43, for a total value of $3,018,220.92. Following the transaction, the director now owns 9,272,906 shares of the company’s stock, valued at approximately $1,812,204,019.58. This trade represents a 0.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Paylocity Trading Up 1.7 %

Shares of NASDAQ PCTY traded up $3.53 during trading hours on Friday, reaching $205.28. The stock had a trading volume of 395,823 shares, compared to its average volume of 500,631. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. The business’s fifty day moving average price is $178.10 and its two-hundred day moving average price is $159.63. The firm has a market cap of $11.44 billion, a price-to-earnings ratio of 51.60, a P/E/G ratio of 4.89 and a beta of 0.93. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $215.68.

Hedge Funds Weigh In On Paylocity

Institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in 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 worth $1,279,000 after acquiring an additional 7,707 shares in the last quarter. Cetera Advisors LLC purchased a new position in Paylocity during the first quarter valued at approximately $729,000. Price T Rowe Associates Inc. MD raised its stake in Paylocity by 3.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock worth $1,518,176,000 after buying an additional 278,607 shares in the last quarter. Capital Research Global Investors purchased a new stake in Paylocity during the first quarter worth $46,902,000. Finally, Plato Investment Management Ltd boosted its position in Paylocity by 4,853.3% during the 1st quarter. Plato Investment Management Ltd now owns 3,715 shares of the software maker’s stock valued at $638,000 after acquiring an additional 3,640 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PCTY. Needham & Company LLC increased their price objective on shares of Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. KeyCorp upped their price objective on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. StockNews.com raised Paylocity from a “hold” rating to a “buy” rating in a research note on Thursday. Mizuho increased their price objective on shares of Paylocity from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, BTIG Research dropped their price target on Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $196.64.

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.