Steven I. Sarowitz Sells 12,226 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 12,226 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $196.29, for a total transaction of $2,399,841.54. Following the sale, the director now directly owns 9,300,847 shares of the company’s stock, valued at $1,825,663,257.63. The trade was a 0.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Paylocity Price Performance

PCTY stock opened at $201.75 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market capitalization of $11.25 billion, a price-to-earnings ratio of 51.60, a PEG ratio of 4.89 and a beta of 0.93. The firm has a 50 day moving average price of $177.18 and a 200-day moving average price of $159.34. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $215.68.

Institutional Investors Weigh In On Paylocity

Several hedge funds have recently added to or reduced their stakes in PCTY. Coldstream Capital Management Inc. bought a new position in Paylocity in the 3rd quarter worth about $239,000. Geode Capital Management LLC lifted its stake in shares of Paylocity by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock worth $173,053,000 after buying an additional 36,590 shares in the last quarter. Vestcor Inc grew its holdings in shares of Paylocity by 943.8% during the third quarter. Vestcor Inc now owns 10,000 shares of the software maker’s stock valued at $1,650,000 after buying an additional 9,042 shares during the last quarter. Barclays PLC increased its position in shares of Paylocity by 14.3% during the third quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock valued at $7,407,000 after acquiring an additional 5,609 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in Paylocity by 30.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 65,408 shares of the software maker’s stock valued at $10,790,000 after acquiring an additional 15,092 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PCTY has been the subject of a number of analyst reports. Jefferies Financial Group increased their target price on shares of Paylocity from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC lifted 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. Truist Financial boosted their target price on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 1st. StockNews.com upgraded shares of Paylocity from a “hold” rating to a “buy” rating in a report on Thursday. Finally, KeyCorp boosted their price objective on shares of Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.