Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $618,850.59 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 3,083 shares of Paylocity stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $200.73, for a total transaction of $618,850.59. Following the completion of the transaction, the director now directly owns 8,335,347 shares of the company’s stock, valued at approximately $1,673,154,203.31. This trade represents a 0.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Paylocity Stock Performance

NASDAQ PCTY opened at $199.66 on Monday. 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 company has a market capitalization of $11.13 billion, a PE ratio of 51.06, a price-to-earnings-growth ratio of 4.93 and a beta of 0.92. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $215.68. The company has a 50-day simple moving average of $198.46 and a 200 day simple moving average of $168.36.

Institutional Trading of Paylocity

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position in shares of Paylocity by 81.9% in the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock valued at $141,303,000 after acquiring an additional 385,625 shares during the period. Lord Abbett & CO. LLC lifted its stake in Paylocity by 3.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 287,264 shares of the software maker’s stock worth $47,389,000 after purchasing an additional 8,878 shares in the last quarter. Tidal Investments LLC boosted its holdings in Paylocity by 207.0% in the 3rd quarter. Tidal Investments LLC now owns 8,836 shares of the software maker’s stock valued at $1,458,000 after purchasing an additional 5,958 shares during the period. Coldstream Capital Management Inc. bought a new position in shares of Paylocity in the third quarter worth $239,000. Finally, Geode Capital Management LLC increased its holdings 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 purchasing an additional 36,590 shares during the period. Institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. TD Cowen lifted their price objective on shares of Paylocity from $208.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. KeyCorp lifted their target price on shares of Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Truist Financial increased their price target on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 1st. BMO Capital Markets boosted their price objective on Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Piper Sandler increased their target price on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research note 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.71.

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.