Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $5,116,777.32 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 26,252 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the sale, the director now owns 420,000 shares of the company’s stock, valued at approximately $81,862,200. The trade was a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $186.33 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market cap of $10.41 billion, a price-to-earnings ratio of 47.78, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94. The stock’s 50-day moving average is $201.20 and its two-hundred day moving average is $192.25. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80.

Paylocity (NASDAQ:PCTY) last issued its earnings results 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%. Analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. KeyCorp raised their price target on shares of Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. StockNews.com cut Paylocity from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Needham & Company LLC upped their price target on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Raymond James reissued an “outperform” rating and set a $265.00 price objective (up from $215.00) on shares of Paylocity in a research report on Friday, February 7th. Finally, TD Cowen decreased their target price on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Paylocity has a consensus rating of “Moderate Buy” and a consensus target price of $233.25.

Hedge Funds Weigh In On Paylocity

Several large investors have recently bought and sold shares of PCTY. SBI Securities Co. Ltd. acquired a new position in shares of Paylocity during the 4th quarter worth about $29,000. UMB Bank n.a. lifted its stake in Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock worth $49,000 after purchasing an additional 72 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Paylocity by 489.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $54,000 after purchasing an additional 225 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock valued at $55,000 after purchasing an additional 63 shares during the last quarter. Finally, Quarry LP raised its holdings in Paylocity by 149.2% during the third quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after purchasing an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

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.