Steven I. Sarowitz Sells 2,600 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 2,600 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $200.14, for a total transaction of $520,364.00. Following the completion of the sale, the director now owns 8,332,347 shares in the company, valued at approximately $1,667,635,928.58. This trade represents a 0.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Paylocity Stock Up 2.1 %

Paylocity stock opened at $199.23 on Friday. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $215.68. The stock has a market cap of $11.11 billion, a price-to-earnings ratio of 50.95, a PEG ratio of 4.93 and a beta of 0.93. The company’s 50-day moving average price is $200.99 and its two-hundred day moving average price is $170.04. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PCTY. JPMorgan Chase & Co. boosted its stake in Paylocity by 81.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock valued at $141,303,000 after purchasing an additional 385,625 shares in the last quarter. Millennium Management LLC boosted its stake in Paylocity by 435.2% during the second quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock valued at $43,676,000 after buying an additional 269,354 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in Paylocity by 283.8% during the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock worth $51,101,000 after acquiring an additional 229,057 shares during the period. Skandinaviska Enskilda Banken AB publ grew its holdings in Paylocity by 1,662.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 181,920 shares of the software maker’s stock worth $23,986,000 after acquiring an additional 171,597 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Paylocity by 58.3% in the second quarter. Dimensional Fund Advisors LP now owns 335,946 shares of the software maker’s stock worth $44,296,000 after acquiring an additional 123,744 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. BMO Capital Markets increased their target price on Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Barclays raised their price objective on Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. KeyCorp boosted their target price on shares of Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. StockNews.com upgraded shares of Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday, December 7th. Finally, Mizuho raised their target price on shares of Paylocity from $180.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Paylocity 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.