Steven I. Sarowitz Sells 13,689 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 13,689 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $203.29, for a total transaction of $2,782,836.81. Following the completion of the transaction, the director now directly owns 8,385,954 shares in the company, valued at $1,704,780,588.66. The trade was a 0.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Paylocity Trading Down 2.2 %

NASDAQ PCTY opened at $200.17 on Friday. 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 of $191.97 and a two-hundred day moving average of $164.10. The stock has a market capitalization of $11.16 billion, a PE ratio of 51.19, a price-to-earnings-growth ratio of 5.00 and a beta of 0.92. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. KeyCorp upped their price objective on shares of Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Barclays upped their price target on Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. TD Cowen lifted their price objective on Paylocity from $208.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, December 9th. BMO Capital Markets boosted their price objective on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, StockNews.com upgraded Paylocity from a “hold” rating to a “buy” rating in a report on Saturday, December 7th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $205.71.

Hedge Funds Weigh In On Paylocity

Institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in Paylocity by 3.6% during the 3rd 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 during the last quarter. Liontrust Investment Partners LLP lifted its stake in Paylocity by 27.1% during the second quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock worth $106,840,000 after purchasing an additional 172,807 shares during the last quarter. Van Berkom & Associates Inc. boosted its holdings in Paylocity by 20.5% in the second quarter. Van Berkom & Associates Inc. now owns 579,801 shares of the software maker’s stock valued at $76,447,000 after purchasing an additional 98,478 shares in the last quarter. Janus Henderson Group PLC increased its stake in Paylocity by 3.5% in the third quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker’s stock valued at $85,444,000 after purchasing an additional 17,560 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Paylocity by 4.7% during the second quarter. Bank of New York Mellon Corp now owns 472,686 shares of the software maker’s stock worth $62,324,000 after purchasing an additional 21,127 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.