Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 23,243 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 23,243 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $191.00, for a total value of $4,439,413.00. Following the transaction, the director now directly owns 470,452 shares of the company’s stock, valued at $89,856,332. This trade represents a 4.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Paylocity Stock Up 2.2 %

Paylocity stock traded up $4.25 during mid-day trading on Monday, hitting $196.16. The company’s stock had a trading volume of 329,304 shares, compared to its average volume of 467,157. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $223.80. The firm’s 50 day moving average is $201.44 and its 200 day moving average is $191.46. The company has a market cap of $10.96 billion, a PE ratio of 50.30, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. On average, analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PCTY. SBI Securities Co. Ltd. acquired a new position in Paylocity in the fourth quarter worth approximately $29,000. UMB Bank n.a. raised its holdings in Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after buying an additional 72 shares in the last quarter. Quarry LP lifted its holdings in Paylocity by 149.2% in 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 last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Paylocity by 489.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock worth $54,000 after buying an additional 225 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in Paylocity by 29.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock worth $55,000 after acquiring an additional 63 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PCTY. Citigroup raised shares of Paylocity from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $214.00 to $231.00 in a report on Thursday, January 16th. StockNews.com cut Paylocity from a “buy” rating to a “hold” rating in a report on Monday, February 10th. JMP Securities lifted their target price on Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a research note on Friday, February 7th. Raymond James reissued an “outperform” rating and issued a $265.00 price target (up previously from $215.00) on shares of Paylocity in a research note on Friday, February 7th. Finally, UBS Group increased their target price on shares of Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Paylocity has an average rating of “Moderate Buy” and an average price target of $233.25.

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.