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

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

Paylocity Stock Down 2.2 %

PCTY stock opened at $200.17 on Friday. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $215.68. The company has a market capitalization of $11.16 billion, a price-to-earnings ratio of 51.19, a price-to-earnings-growth ratio of 5.00 and a beta of 0.92. The business’s 50 day moving average price is $191.37 and its two-hundred day moving average price is $163.69. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32.

Institutional Investors Weigh In On Paylocity

Several hedge funds have recently made changes to their positions in the company. CWM LLC boosted its holdings in shares of Paylocity by 103.3% during the 2nd quarter. CWM LLC now owns 557 shares of the software maker’s stock valued at $73,000 after buying an additional 283 shares in the last quarter. SG Americas Securities LLC grew its holdings in Paylocity by 2.9% in the second quarter. SG Americas Securities LLC now owns 5,843 shares of the software maker’s stock worth $770,000 after purchasing an additional 162 shares during the period. Washington Capital Management Inc. increased its stake in shares of Paylocity by 62.6% during the second quarter. Washington Capital Management Inc. now owns 5,530 shares of the software maker’s stock valued at $729,000 after purchasing an additional 2,130 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of Paylocity during the second quarter valued at approximately $3,014,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Paylocity by 26,132.2% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 15,477 shares of the software maker’s stock valued at $2,046,000 after purchasing an additional 15,418 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on PCTY. TD Cowen raised their price target on Paylocity from $208.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. KeyCorp raised 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. 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. BMO Capital Markets raised their price target on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Mizuho boosted their price objective on shares of Paylocity from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.71.

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.