Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $520,364.00 in Stock

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

Paylocity Stock Performance

Shares of Paylocity stock opened at $199.23 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 stock’s fifty day moving average is $200.99 and its two-hundred day moving average is $170.04. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $215.68. The company has a market capitalization of $11.11 billion, a PE ratio of 50.95, a price-to-earnings-growth ratio of 4.93 and a beta of 0.92.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Rothschild Investment LLC purchased a new stake in Paylocity in the 2nd quarter valued at about $40,000. Van ECK Associates Corp boosted its holdings in shares of Paylocity by 4.6% in the second quarter. Van ECK Associates Corp now owns 8,375 shares of the software maker’s stock valued at $1,104,000 after purchasing an additional 370 shares during the period. CIBC Asset Management Inc grew its stake in Paylocity by 12.1% in the second quarter. CIBC Asset Management Inc now owns 1,594 shares of the software maker’s stock worth $210,000 after purchasing an additional 172 shares in the last quarter. Rhumbline Advisers increased its holdings in Paylocity by 0.6% during the 2nd quarter. Rhumbline Advisers now owns 129,753 shares of the software maker’s stock worth $17,108,000 after purchasing an additional 747 shares during the period. Finally, TD Asset Management Inc raised its position in Paylocity by 2.5% during the 2nd quarter. TD Asset Management Inc now owns 290,053 shares of the software maker’s stock valued at $38,243,000 after purchasing an additional 6,956 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Jefferies Financial Group upped their price objective on Paylocity from $215.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Piper Sandler upped their price target on shares of Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Mizuho boosted 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. 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. Finally, Barclays lifted their price target on Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.