Steven I. Sarowitz Sells 2,900 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 2,900 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $208.59, for a total value of $604,911.00. Following the completion of the sale, the director now directly owns 8,945,315 shares in the company, valued at approximately $1,865,903,255.85. The trade was a 0.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Paylocity Stock Up 1.0 %

NASDAQ:PCTY traded up $2.14 during mid-day trading on Wednesday, reaching $209.71. The company’s stock had a trading volume of 406,589 shares, compared to its average volume of 494,477. 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 $11.69 billion, a PE ratio of 53.09, a price-to-earnings-growth ratio of 5.16 and a beta of 0.92. The stock has a fifty day moving average of $185.65 and a 200-day moving average of $161.75. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $215.68.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PCTY. KeyCorp lifted their price objective on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Truist Financial boosted their price objective on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, November 1st. StockNews.com downgraded shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Friday, November 29th. Mizuho increased their price target on shares of Paylocity from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, Needham & Company LLC boosted their price objective on shares of Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $196.64.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCTY. UMB Bank n.a. grew its stake in Paylocity by 1,650.0% during the 3rd 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 last quarter. Prospera Private Wealth LLC purchased a new position in Paylocity during the third quarter valued at approximately $39,000. Rothschild Investment LLC acquired a new position in Paylocity in the second quarter valued at approximately $40,000. Signaturefd LLC boosted its position 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 purchasing an additional 167 shares in the last quarter. Finally, Quarry LP grew its stake in shares of Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after purchasing an additional 185 shares during the period. 94.76% of the stock is currently 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.