Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz Sells 15,444 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 15,444 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $195.43, for a total value of $3,018,220.92. Following the transaction, the director now directly owns 9,272,906 shares of the company’s stock, valued at $1,812,204,019.58. The trade was a 0.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Paylocity Price Performance

Paylocity stock opened at $205.28 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $11.44 billion, a P/E ratio of 52.50, a PEG ratio of 5.06 and a beta of 0.93. The firm has a fifty day moving average of $178.10 and a 200-day moving average of $159.63. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $215.68.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PCTY. StockNews.com upgraded Paylocity from a “hold” rating to a “buy” rating in a research report on Thursday. Jefferies Financial Group lifted their price target on shares of Paylocity from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and set a $250.00 price objective on shares of Paylocity in a research note on Monday, August 5th. Needham & Company LLC lifted their target price 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. Finally, BMO Capital Markets increased their price target on Paylocity from $175.00 to $203.00 and gave the stock an “outperform” 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $196.64.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. raised its stake in shares of Paylocity by 1,650.0% during the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after purchasing an additional 165 shares during the period. Prospera Private Wealth LLC acquired a new stake in Paylocity during the 3rd quarter valued at $39,000. Rothschild Investment LLC purchased a new stake in Paylocity during the 2nd quarter worth $40,000. Signaturefd LLC lifted its holdings in Paylocity by 121.0% in the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after buying an additional 167 shares in the last quarter. Finally, Quarry LP boosted its position in Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after buying an additional 185 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

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.