Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 29,606 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Jeffrey T. Diehl sold 29,606 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $196.55, for a total value of $5,819,059.30. Following the completion of the sale, the director now owns 11,755 shares in the company, valued at approximately $2,310,445.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Paylocity Stock Down 1.4 %

PCTY traded down $3.08 during trading on Thursday, reaching $210.71. 775,626 shares of the stock traded hands, compared to its average volume of 504,828. The stock has a market cap of $11.75 billion, a price-to-earnings ratio of 54.68, a price-to-earnings-growth ratio of 4.63 and a beta of 0.93. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $213.98. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. The stock’s 50-day simple moving average is $168.04 and its two-hundred day simple moving average is $155.99.

Institutional Trading of Paylocity

A number of institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its holdings in Paylocity by 55.2% during the first quarter. BNP Paribas Financial Markets now owns 36,818 shares of the software maker’s stock valued at $6,328,000 after buying an additional 13,093 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Paylocity by 12.6% during the first quarter. Janney Montgomery Scott LLC now owns 6,343 shares of the software maker’s stock valued at $1,090,000 after buying an additional 708 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Paylocity by 3.6% during the first quarter. Daiwa Securities Group Inc. now owns 2,900 shares of the software maker’s stock valued at $498,000 after buying an additional 100 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Paylocity during the first quarter valued at about $219,000. Finally, Texas Permanent School Fund Corp raised its holdings in Paylocity by 1.6% during the first quarter. Texas Permanent School Fund Corp now owns 37,961 shares of the software maker’s stock valued at $6,524,000 after buying an additional 594 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

PCTY has been the topic of several research analyst reports. Barclays lifted their price target on Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. BMO Capital Markets lifted their price target on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. KeyCorp lifted their target price on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Piper Sandler lifted their target price on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group lifted their target price on Paylocity from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $194.20.

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.